UBS raised the firm’s price target on CarGurus (CARG) to $36 from $33 and keeps a Neutral rating on the shares. CarGurus reported a slight EBITDA beat for Q2, guided Q3 Marketplace ahead of expectations, and announced the wind down of CarOffer, the analyst tells investors in a research note. The decision to walk away from CarOffer was likely correct and shows some capital discipline, but mid-term industry dynamics still present some risk, the firm says.
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