Nov. 14 at 3:34 PM
AutoNation Inc received an "Overweight" rating from Barclays as the investment bank initiated coverage of the U.S. auto retail sector with a neutral overall view. Barclays highlighted AutoNation’s consistent operational performance, above-average growth, and shareholder returns as key factors supporting a positive outlook.
The firm also assigned "Overweight" ratings to Group 1 Automotive, Lithia Motors, and Penske Automotive Group, while Asbury Automotive Group and Sonic Automotive were rated "Equal Weight."
In the used vehicle retail segment, Barclays offered a mixed perspective, giving Carvana an "Overweight" rating and CarMax an "Underweight" rating. Despite signs of soft demand and weakening high-risk auto credit data, Carvana is seen as well-positioned to outperform due to its investments in online buying convenience and streamlined logistics.
$AN $GPI $LAD $KMX