UPDATE: Goldman Sachs Upgrades AutoNation Inc. (AN) to Neutral

(Updated - October 6, 2016 8:52 AM EDT)

Goldman Sachs upgraded AutoNation Inc. (NYSE: AN) from Sell to Neutral with a price target of $49.00 (from $52.00). Analyst David Tamberrino thinks shares have bottomed.

"We upgrade AN as valuation appears to have bottomed out with shares trading in line with our updated price target – effectively at trough multiples, and given a more defensible business model in a downturn," said the analyst.

For an analyst ratings summary and ratings history on AutoNation Inc. click here. For more ratings news on AutoNation Inc. click here.

Shares of AutoNation Inc. closed at $49.76 yesterday.

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