JP Morgan Downgrades Penske Automotive Group to Underweight, Lowers Price Target to $140
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Rajat Gupta has downgraded Penske Automotive Group (NYSE:PAG) from Neutral to Underweight and lowered the price target from $150 to $140.
July 31, 2023 | 9:29 am
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NEGATIVE IMPACT
Penske Automotive Group has been downgraded by JP Morgan from Neutral to Underweight, with a reduced price target of $140.
The downgrade from JP Morgan, a major financial institution, is likely to negatively impact investor sentiment towards Penske Automotive Group. The lowered price target suggests that JP Morgan expects the stock's value to decrease in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100