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Asbury Automotive Group Inc (ABG) [hlAlert]

Rating:
Mkt Perform
ABG
down 37.60 %

Asbury Automotive Group Inc (ABG) downgraded to Mkt Perform by Wachovia

Posted on: Tuesday,  Jun 10, 2008  8:25 AM ET by Wachovia

Wachovia rated Mkt Perform Asbury Automotive Group Inc (NYSE: ABG) on 06/10/2008. Previously Wachovia rated Buy Asbury Automotive Group Inc (NYSE: ABG)
on 07/27/2007., when the stock price was $22.50. Since then, Asbury Automotive Group Inc has lost 37.60% as of 06/10/2008's recent price of $14.04.
If you would have followed the previous Wachovia's recommendation on ABG, you would have lost 37.6% of your investment in 319 days.

Asbury Automotive Group, Inc. (Asbury) is an automotive retailer in the United States. It offers customers a range of automotive products and services, including new and used vehicles, vehicle maintenance and repair services, replacement parts, new and used vehicle financing, and the sale of warranty, insurance and extended service contracts. During the year ended December 31, 2008, the Company operated 115 franchises at 87 dealership locations. The retail network is organized into two regions, east and west, and includes nine locally branded dealership groups. It includes Nalley Automotive Group, Courtesy Autogroup, Coggin Automotive Group, Crown Automotive Company, David McDavid Auto Group, California Dealerships, North Point Auto Group, Gray-Daniels Auto Family and Plaza Motor Company. As of December 31, 2008, Asbury operated dealerships in 22 metropolitan markets throughout the United States.

Wachovia offers a full range of products and services to meet the needs of corporate and institutional clients nationwide. These include capital raising, market making, and financial advisory products and services, to name just a few. We have the experience and resources you need to help your business grow and succeed. With a unified culture and integrated platform, ours is an organization that executes without distraction. We are focused and proactive, working as a team to deliver the ideas and capital for your needs.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
6/10/2008 8:25 AM Hold
None
14.04
as of 12/24/2008
1 Week up  10.95 %
1 Month up  88.40 %
3 Months up  125.43 %
1 YTD down  -45.63 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/27/2007 9:25 AM Buy
None
22.50

(*) Stock Price at the time of the recommendation.
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