TrueCar downgraded to Neutral from Buy at BTIG

BTIG downgraded TrueCar (TRUE) to Neutral from Buy given the recently announced agreement to be acquired by Fair Holdings for $2.55 per share. While the shares trading below the acquisition price leaves some incremental upside, the firm sees this discount as appropriate given there is still a non-zero risk the deal is not consummated. BTIG added that it sees the roughly 65% gain investors have already achieved since before the deal was announced as worth locking in.