Morgan Stanley Believes Penske Automotive Group (NYSE: PAG) Won’t Stop Here

In a report released today, Adam Jonas from Morgan Stanley maintained a Buy rating on Penske Automotive Group (PAGResearch Report), with a price target of $80.00. The company’s shares closed last Monday at $67.27, close to its 52-week high of $67.69.

According to TipRanks.com, Jonas is a 4-star analyst with an average return of 12.8% and a 56.0% success rate. Jonas covers the Consumer Goods sector, focusing on stocks such as Group 1 Automotive, Sonic Automotive, and Lordstown Motors.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Penske Automotive Group with a $73.25 average price target, implying a 10.9% upside from current levels. In a report issued on February 11, Stephens also maintained a Buy rating on the stock with a $78.00 price target.

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Penske Automotive Group’s market cap is currently $5.3B and has a P/E ratio of 9.40. The company has a Price to Book ratio of 6.12.

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Penske Automotive Group, Inc. operates as an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems and related parts & services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments and Other. The Retail Automotive segment consists of retail automotive dealership operations. The Retail Commercial Truck segment is the dealership operations of commercial trucks in the U.S. and Canada. The Other segment is comprised of commercial vehicle and power systems distribution operation and other non-automotive consolidated operations. The Non-Automotive Investments segment is the equity method investments in non-automotive operations. The company was founded in October 1992 and is headquartered in Bloomfield Hills, MI.