Morgan Stanley Upgrades AutoNation to Equal-Weight, Raises Price Target to $140
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Adam Jonas upgraded AutoNation (NYSE:AN) from Underweight to Equal-Weight and increased the price target from $117 to $140.
February 29, 2024 | 10:36 am
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AutoNation was upgraded by Morgan Stanley from Underweight to Equal-Weight, with a price target increase from $117 to $140.
The upgrade from Underweight to Equal-Weight by a major financial institution like Morgan Stanley, accompanied by a significant increase in the price target, is a strong positive signal to the market. This suggests a more favorable outlook on AutoNation's stock, potentially leading to increased investor confidence and a rise in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100