CarGurus price target lowered to $37 from $40 at Citi

Citi analyst Ronald Josey lowered the firm’s price target on CarGurus (CARG) to $37 from $40 and keeps a Neutral rating on the shares. The firm is raising its U.S. Marketplace revenue and EBITDA projections by 3% and 8%, respectively, for 2026, but adds that Digital Wholesale pressures are likely to continue in Q2 and believes the margin expansion trajectory is likely to slow in 2025.