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Bull of the Day

AutoNation, Inc. (AN)

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By: Zacks Equity Research
September 01, 2010 | Comment(s): 0
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AN
AutoNation (AN - Analyst Report) remains focused on improving its product mix and cost-cutting initiatives. The company's profit increased 36% in the second quarter of 2010 and surpassed the Zacks Consensus Estimate by $0.02 per share.

Cost reduction revolved around lower interest expense, disciplined operations and inventory management. The company's strong new vehicle unit sales are expected to be boosted further by its recent acquisitions of three dealerships.

These factors have led us to upgrade our recommendation on the stock from Neutral to Outperform and set a target price of $28.

AutoNation, Inc. (AN) : FULL ANALYST REPORT

Bull of the Day
Every day we feature one stock with a Zacks Recommendation of Buy that is set to outperform over the next 6+ months. We also provide you with free access to the in-depth research report on the stock. If you would like to see all our Buy rated stocks and in-depth research reports, then check out  Zacks Premium.

Read the full analyst report on AN

 

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