Cars.com price target lowered to $17 from $21 at JPMorgan

JPMorgan lowered the firm’s price target on Cars.com (CARS) to $17 from $21 and keeps a Neutral rating on the shares. The company’s Q4 results were a sizeable miss versus prior guidance, primarily attributed to a pullback in dealer spending as inventory levels normalized, the analyst tells investors in a research note. The firm, however, finds management’s view on profit compression as a driver “somewhat puzzling.”