Where is AutoNation (AN) Headed According to Analysts?

AutoNation, Inc. (NYSE:AN) is one of the best automotive stocks to buy according to hedge funds. On August 14, Morgan Stanley raised the firm’s price target on AutoNation, Inc. (NYSE:AN) to $220 from $195, keeping an Overweight rating on the shares.

The firm told investors that the intra-quarter data continues to reflect stability in auto and consumer data. It reiterated auto retail as its “favorite” vertical within Autos.

However, Guggenheim lowered the firm’s price target on AutoNation, Inc. (NYSE:AN) to $228 from $230 on August 11, while keeping a Buy rating on the shares.

The analyst told investors in a sector note that while concerns exist about how the group would trade into an SAAR slowdown, factors such as positive inflection in sales in July and the recent pullback in the group, help “de-risk the near-term setup.”

AutoNation, Inc. (NYSE:AN) provides automotive products and services, with its operations divided into the following segments: Domestic, Import, Premium Luxury, and Corporate & Other.

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