SunCar Technology initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of SunCar Technology (SDA) with an Outperform rating and $3.50 price target SunCar is a fully-digitalized cloud and mobile-app based business-to-business-to-consumer provider of enterprise solutions for the Chinese automotive insurance and service markets, the analyst tells investors in a research note. The firm says the company is leveraging its enterprise relationships with China’s largest financial institutions and electric vehicle makers to gain share as insurance distribution becomes fully digitized. It believes partnering with Deepseek will enhance SunCar’s artificial intelligence capabilities to improve the automation and end-customer engagement that its enterprise clients can offer.