RBC Capital raised the firm’s price target on CarGurus to $30 from $27 and keeps an Outperform rating on the shares. The company’s Q2 results were “good” as it is seeing strong acceleration out of the core business as the used-car end market improves, driving significant adoption of several differentiated new add-on products, adding more new and larger dealers, and continues flexing on margins – which RBC believes is “underappreciated”, the analyst tells investors in a research note.
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