Morgan Stanley Maintains Underweight on Penske Automotive Group, Raises Price Target to $107
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Adam Jonas has maintained an 'Underweight' rating on Penske Automotive Group (NYSE:PAG) but raised the price target from $88 to $107.
August 09, 2023 | 1:58 pm
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POSITIVE IMPACT
Despite the 'Underweight' rating, the raised price target from $88 to $107 by Morgan Stanley could potentially have a positive impact on Penske Automotive Group's stock.
The 'Underweight' rating suggests that the analyst believes the stock will underperform the market. However, the increased price target indicates an expectation of potential upside, which could positively influence investor sentiment and drive the stock price up in the short term.
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