DA Davidson raised the firm’s price target on CarGurus to $25.50 from $22 and keeps a Neutral rating on the shares after its Q1 earnings beat. The firm is citing strong performance and momentum in the company’s core Marketplace business, though its Q2 Wholesale and Product revenue outlook was light vs. consensus, which caused Q2 consolidated revenue to fall a bit shy of expectations, the analyst tells investors in a research note.
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