
Guggenheim downgrades automotive retailer Group 1 Automotive GPI.N to "neutral" from "buy"; price target unchanged at $426
Says rating change due to mix of premium valuation, potential tariff risk on the business and expected slow sales
Adds price hike due to tariff will start impacting co's results sooner than the peer
"Softening U.S. new seasonally adjusted annualised rate (SAAR) environment and premium valuation pose risks in the near-term"- Guggenheim
Co's adj. EPS beat analysts' estimates for two consecutive quarters
Seven of 9 brokerages rate the stock "buy" or higher, 2 "hold"; their median PT is $480 - data compiled by LSEG
As of last close, stock had risen 6.5% YTD