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.
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