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Driven Brands could be due for big gains ahead, according to JPMorgan. JPMorgan upgraded the automotive services stock to overweight from neutral in a Wednesday note, and raised its price target to $23 per share from $17. The firm’s forecast implies about 33% upside from Tuesday’s $17.33 close. The company owns oil change service Take 5, as well as other automotive services names such as Maaco Collision Repair & Auto Painting and Meineke Car Care Center. The firm on Tuesday reported better-than-expected second-quarter results , but shares are trading lower since it reiterated its full-year outlook. Analyst Christian Carlino said he expects Take 5 to help drive the company’s growth as it continues to capture a larger piece of the quick oil-change sector. “Take 5 continues to post upside, with our work suggesting the quick lube category should outpace broader maintenance demand, and Take 5 should continue to take share,” Carlino said. He also lauded management’s decision to stand by previous guidance amid a still-uncertain macroeconomic backdrop. That said, he sees the stock as defensive given its “limited direct tariff exposure” and its better visibility into the second half of 2025 than other retail names. “Management expects comps to continue to moderate in 2H as the business grows off a larger base, which we view as prudent in light of the potential impact of tariffs on consumers’ wallets,” the analyst said. Shares have gained about 6% so far in 2025.
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