TrueCar price target lowered to $2.15 from $3.75 at B. Riley

B. Riley analyst Naved Khan lowered the firm’s price target on TrueCar (TRUE) to $2.15 from $3.75 and keeps a Neutral rating on the shares. TrueCar reported Q1 results that were slightly above consensus on revenue and EBITDA, with benefits from a pickup in new vehicle retail volumes in March, the analyst tells investors in a research note. The firm, which finds the risk/reward balanced at current levels, remains on the sidelines, awaiting a better read on prospects for sustainable growth and profitability.