CarGurus price target raised to $20 from $16 at Raymond James

Raymond James raised the firm’s price target on CarGurus to $20 from $16 and keeps an Outperform rating on the shares. CarGurus reported in-line revenue and EBITDA upside with stable Marketplace growth and continued weakness in its Wholesale segment, and the company pointed to continued softness in Q1 for wholesale as it continues to right size its operations in order to improve profitability, the analyst tells investors in a research note.