BofA lowered the firm’s price target on ACV Auctions (ACVA) to $16.50 from $20 and keeps a Buy rating on the shares. For 2025, the firm lowered its revenue forecast about 1% given expectations for retention rates to remain elevated and EBITDA forecast by 4.6%, the analyst tells investors in a post-Q2 note. Despite management lowering the top-end of FY25 revenue guidance to reflect retention rates, the firm remains “confident” in ACV taking “significant share from the wholesale dealer market,” the analyst added.
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