Analysts Back Penske Automotive (PAG) as Positive Data Supports Rebound Trend

Penske Automotive Group Inc. (NYSE:PAG) is one of the most undervalued and overlooked large-cap stocks. On August 19, Citi’s analyst Michael Ward reiterated a Buy rating on Penske Automotive Group Inc. (NYSE:PAG) with a $200 price target. He highlighted the stock’s pattern of sharp sell-offs and consistent rebounds following earnings, which he believes are a sign of resilience and investor confidence.

Ward emphasized Penske Automotive Group Inc.’s (NYSE:PAG) premium position within the Dealer Group, suggesting it stands out relative to peers. He also noted that the stock had recovered from July losses, which reinforced his positive outlook.

Penske Automotive Group Inc.’s (NYSE:PAG) consistent recovery after earnings-related weakness has strengthened the case for long-term investors. Corroborating that view, on August 14, an analyst from Morgan Stanley increased his price target on the stock to $190 from $180, while reiterating an Overweight rating. The analyst was encouraged by the stability in auto and consumer data, which bodes well for earnings into the second half for dealers.

Penske Automotive Group Inc. (NYSE:PAG) is an international transportation services company with automotive and commercial truck dealerships.

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Disclosure: None. This article is originally published at Insider Monkey.