JPMorgan Upgrades AutoNation Inc. (AN) to Overweight

JPMorgan analyst Rajat Gupta upgraded AutoNation Inc. (NYSE: AN) from Neutral to Overweight with a price target of $70.00 (from $53.00).

The analyst comments "We commend AN on their strategy to build an integrated, brand-centric approach to auto retail via a cohesive experience that spreads across multiple automotive segments including core franchised locations, exclusive used retail dealerships, and branded parts & accessories. Based on management’s ongoing cost cut actions, we see upside potential to standing consensus estimates + further upside from balance sheet deployment (buybacks primarily in the near-term and AutoNation USA expansion longer-term)."

For an analyst ratings summary and ratings history on AutoNation Inc. click here. For more ratings news on AutoNation Inc. click here.

Shares of AutoNation Inc. closed at $52.55 yesterday.

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