JPMorgan placed CarGurus on “Positive Catalyst Watch” into the Q1 earnings report. The analyst sees the highest upside surprise risk at CarGurus given its “conservative guidance” in a seasonally weak period, and on the back of new CFO and new CarOffer CEO. The firm sees re-rating potential post the results following the stock’s year-to-date pullback. It keeps an Overweight rating on the shares with a $27 price target.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CARG:
- CarGurus To Report First Quarter 2024 Financial Results
- Hope on the Horizon: CarGurus Q1 2024 Report Reveals Inventory and Demand are Rebounding as Prices Improve
- CarGurus Study Reveals Shifting Consumer Preferences as Automotive Landscape Evolves and Costs Remain Elevated
- CarGurus price target raised to $27 from $26 at UBS
- CarGurus price target raised to $24 from $22 at Needham
