Cars.Com shares are trading higher after JP Morgan initiated coverage on the stock with an Overweight rating and announced a $23 price target.
Portfolio Pulse from Benzinga Newsdesk
JP Morgan has initiated coverage on Cars.Com with an Overweight rating and a price target of $23. This has led to a rise in the company's share prices.
June 27, 2023 | 5:19 pm
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Cars.Com shares are trading higher after JP Morgan initiated coverage with an Overweight rating and a $23 price target.
The initiation of coverage by a major financial institution like JP Morgan generally indicates a positive outlook for the company. The Overweight rating suggests that JP Morgan believes the stock will outperform the market in the future. This, combined with the announced price target of $23, has led to increased investor confidence and a rise in share prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100