Penske Automotive Group Gets New Price Target from JPMorgan Chase & Co.
Penske Automotive Group (NYSE:PAG) received an upgraded price target of $215.00 from JPMorgan Chase & Co., a significant increase from their previous target of $170.00.
This new target represents a potential downside of 1.56% from the stock's current price, indicating that investors may need to be cautious before making any investment decisions.
Other analysts have also weighed in on Penske Automotive Group, with Morgan Stanley maintaining an 'overweight' rating and a $190.00 price target, while Weiss Ratings upgraded their rating to 'buy' from 'hold (c+)'. Bank of America boosted their target price to $238.00 and Citigroup downgraded the stock to 'neutral' from 'buy', increasing their price target to $210.00.
Institutional investors own 77.08% of the company's stock, with several hedge funds modifying their holdings in the fourth quarter.