Wells Fargo has revised its price target for Lithia & Driveway (LAD, Financial), lowering it from $397 to $308. The decision reflects the firm's updated earnings per share projections based on the latest industry data and a revised outlook for U.S. sales.
Despite the reduced target, Wells Fargo maintains an Equal Weight rating for LAD shares. The firm notes that the first quarter performance appears strong, supported by increased volumes and stable pricing, alongside gross profit per unit. Additionally, the firm highlights potential risks related to tariffs that may affect auto dealers, framing these as a downside consideration in its analysis.
