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.
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