RBC Capital lowered the firm’s price target on CarGurus (CARG) to $40 from $42 and keeps an Outperform rating on the shares. The company’s Q2 results were somewhat mixed but with the news that it will wind down CarOffer, which has been a liability for several years now, the analyst tells investors in a research note. RBC adds that from here, the bull case becomes steady dealer count and leveraging its unique data and insights products.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CARG:
- CarGurus price target raised to $44 from $39 at Needham
- CarGurus price target raised to $36 from $33 at UBS
- CarGurus: Buy Rating Affirmed Amidst Strong Growth Potential and Robust Platform
- CarGurus Reports Strong Q2 2025 Results and Strategic Shift
- CarGurus Winds Down CarOffer Business Amid Market Volatility