ACV Auctions' Rise In The Upper Midwest, Market Share Expansion On The Horizon: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Chris Pierce reiterated a Buy rating on ACV Auctions Inc. (NASDAQ:ACVA) and raised the price target to $23 from $20. ACVA is gaining momentum in the Upper Midwest, and dealer hesitancy to transact digitally has decreased. This could lead to market share gains for the company in multiple cities in the region.
June 20, 2023 | 6:34 pm
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Needham analyst Chris Pierce reiterated a Buy rating on ACV Auctions Inc. (NASDAQ:ACVA) and raised the price target to $23 from $20. The company is gaining momentum in the Upper Midwest, and dealer hesitancy to transact digitally has decreased.
The analyst's Buy rating and increased price target indicate a positive outlook for ACV Auctions. The company's momentum in the Upper Midwest and the decrease in dealer hesitancy to transact digitally are factors that could lead to market share gains and a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100