As previously reported, Benchmark upgraded Group 1 Automotive to Buy from Hold with a $425 price target. The firm has been Hold-rated for several quarters as macro headwinds in the United Kingdom combined with near-term pressure from portfolio optimization and ongoing restructurings put a near-term cap on growth and profitability, but the recent group pullback has shifted its stance, says the analyst, who calls the upgrade \"primarily valuation-driven.\"
