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ACV Auctions price target lowered to $21 from $22 at Citi

Citi analyst Ronald Josey lowered the firm’s price target on ACV Auctions (ACVA) to $21 from $22 and keeps a Buy rating on the shares. The firm updated the company’s model, pointing out management has noted softer market conditions and lower than average used car supply. However, Citi expects ACV will continue to gain dealer wholesale wallet share.

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