TrueCar upgraded to Buy from Hold at Needham

Needham upgraded TrueCar to Buy from Hold with a $3.50 price target. The company’s combination of leverage to new vehicle sales as the industry slowly returns to normal and changes to its business model indicate it is "playing offense," the analyst tells investors in a research note. In addition, TrueCar’s cash balance and further potential interest from strategic industry partners "adds comfort on the defensive side," says the firm.