Gabelli says Penske Automotive (PAG +1.2%)  is still undervalued even at these lofty levels, and...

|About: Penske Automotive Group, Inc. (PAG)|By:, SA News Editor

Gabelli says Penske Automotive (PAG +1.2%)  is still undervalued even at these lofty levels, and should be bought on weakness. Despite flat same-store new unit sales, the firm notes that net profit was up 67% Y/Y on higher overall sales and better pricing, and maintains a Buy rating on the stock.