Asbury Automotive Group (ABG) PT Lowered to $58 at Deutsche Bank Following 2Q Miss
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Deutsche Bank lowered its price target on Asbury Automotive Group (NYSE: ABG) to $58.00 (from $60.00) while maintaining a Hold rating following the company's 2Q.
Adjusted EPS of $1.58 missed the consensus of $1.68. The miss was driven by softer gross profit in New and Used vehicles, along with higher SG&A levels, and costs associated with hail damage.
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