AutoNation, Inc. (AN)
by Zacks Equity Research
September 11, 2012 | Comments :
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AutoNation, Inc. (
AN) is the largest automotive retailer in U.S. The company s optimal brand and market mix is pulling new vehicle sales higher as the market revives. In the second quarter of 2012, the company's profits surged 35% to $0.66 per share, beating the Zacks Consensus Estimate by $0.07. Revenues of $3.9 billion were also higher than the Zacks Consensus Estimate of $3.7 billion.
The company's effort to expand its dealer network by investing in existing stores and service centers will help it outgrow peers. Further, recovery in auto sales and introduction of new products will boost the company's earnings.
As such, we have upgraded our recommendation to Outperform from Neutral and set a target price of $48.00. This is 19.4X our 2012 EPS estimate.
This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext. 9339.
The company's effort to expand its dealer network by investing in existing stores and service centers will help it outgrow peers. Further, recovery in auto sales and introduction of new products will boost the company's earnings.
As such, we have upgraded our recommendation to Outperform from Neutral and set a target price of $48.00. This is 19.4X our 2012 EPS estimate.
Read the full Analyst Reporton AN