UPDATE: Morgan Stanley Reiterates On Group 1 Automotive, Inc. On Challenges Ahead

In a report published Monday, Morgan Stanley analyst Ravi Shanker reiterated an Underweight rating on Group 1 Automotive, Inc. (NYSE: GPI), and raised the price target from $61.00 to $66.00.

In the report, Morgan Stanley noted, “Brazil operations have held back the diversification benefits that GPI expected primarily driven by macro issues. Structural headwinds in US as well as portfolio re-balancing/cost resizing in Brazil and US could easily offset UK strength.”

Group 1 Automotive closed on Friday at $75.56.