S&P Capital IQ Upgrades Group 1 Automotive from HOLD to BUY

October 28 00:00 2011

NEW YORK, October 28 (RainbowNewsLine.com) – Analyst Efraim Levy of S&P Capital IQ upgrades Group 1 Automotive (NYSE: GPI) from HOLD to BUY. The 12-month target price has been raised from $54 to $55.

Analyst Efraim Levy, in a research note published yesterday, mentions that the company’s consensus estimates for 2011 and 20o12 have been increased following Q3 results. Group 1 Automotive’s rising volumes would support its margins going forward, which would help stock buybacks and acquisitions, the analyst says. The analyst believes that the industry sales would continue to increase over the forthcoming several years. The company’s cash dividend, which was raised twice last year would add to the stock’s total return potential, the analyst adds.