Auto retailers hit with analyst downgrade

A 10% to 15% downgrade to expected earnings within the UK motor retail sector, has been factored into valuations by analyst Zeus Capital.

In a note covering prospects for 2018/19, it said sector sentiment in the new car market continues to decline and share prices for listed retailers are expected to fall further. It was pointed out the new car market is on course for its first annual decline since 2011.

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