CarGurus price target raised to $33 from $29 at UBS

UBS analyst Joseph Spak raised the firm’s price target on CarGurus (CARG) to $33 from $29 and keeps a Neutral rating on the shares. Solid results and outlook shows CarGurus’ model has traction with strong dealer growth this quarter, the analyst tells investors in a research note. The firm remains on the sidelines for now, saying that while UBS is incrementally more positive, some expected slower growth trends over balance of year and margins limited by investment could limit upside to expectations.