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Asbury Automotive stock gets upgrade from Morgan Stanley

Analysts at Morgan Stanley upgraded their rating on shares of Asbury Automotive Group Inc. (ABG) to their equivalent to buy from hold, saying that the auto dealership company made strides in their online car-buying platform. Ashbury is now Morgan Stanley's top pick among auto dealers, which, as a group, are accelerating their move to online amid the pandemic, taking a page from Carvana Co. (CVNA) and other car-buying online dealers. Shares of Ashbury Automotive have gained 29% this year, compared with gains of 14% for the S&P 500 index.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

12-07-20 1223ET

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