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.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CARG: