Karooooo price target raised to $58 from $51 at Raymond James

Raymond James raised the firm’s price target on Karooooo (KARO) to $58 from $51 and keeps an Outperform rating on the shares. With impressive GAAP-based “rule of 40+” subscription revenue plus EBIT results at the core of the firm’s positive thesis, Raymond James believes the potential for Karooooo to further inflect growth over the next one to two years could be rewarded in multiple expansion, the analyst tells investors in a research note.