UPDATE: Credit Suisse Reinstates Group 1 Automotive with Neutral on Upside Potential, Gross Margin Pressure

In a report published Wednesday, Credit Suisse analyst Gary Balter reinstated coverage on Group 1 Automotive (NYSE: GPI ) with a Neutral rating and $70.00 price target. In the report, Balter noted, “We believe the upside potential from strong new vehicle sales may be offset by new vehicle gross margin