JP Morgan Maintains Neutral Rating for Asbury Automotive Group: Here's What You Need To Know

JP Morgan has decided to maintain its Neutral rating of Asbury Automotive Group ABG and raise its price target from $195.00 to $205.00.

Shares of Asbury Automotive Group are trading up 3.97% over the last 24 hours, at $178.46 per share.

A move to $205.00 would account for a 14.87% increase from the current share price.

About Asbury Automotive Group

Asbury Automotive Group is a regional collection of automobile dealerships that went public in March 2002. The company operates 148 stores with associated parts and service departments and 35 collision centers. Over 80% of new-vehicle revenue is from luxury and import brands. Asbury also offers third-party financing and insurance products. Asbury operates in 15 states (mostly Texas, the West, and the Southeast) and entered Colorado in 2019. Asbury store brands include David McDavid and Park Place in Texas, Plaza in Missouri, Nalley and Crown in the Southeastern U.S., and the Larry H. Miller brand in the Western U.S. Asbury generated $9.8 billion of revenue in 2021 and is based in the Atlanta area. 2022 sales should reach at least $16 billion and the firm targets about $32 billion in 2025.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.