JP Morgan Maintains Underweight on Penske Automotive Group, Raises Price Target to $160
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Rajat Gupta maintains an Underweight rating on Penske Automotive Group (NYSE:PAG) but raises the price target from $140 to $160.
September 10, 2024 | 2:54 pm
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JP Morgan has maintained an Underweight rating on Penske Automotive Group but increased the price target from $140 to $160, indicating a more positive outlook despite the cautious rating.
The increase in price target suggests a more optimistic view on the stock's potential, but the maintained Underweight rating indicates caution. This mixed signal may lead to neutral short-term price movement as investors weigh the implications.
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