CarGurus Is 'Putting the Pedal To The Metal' Says Bullish Analyst
Portfolio Pulse from Priya Nigam
Shares of CarGurus Inc (NASDAQ:CARG) have risen more than 65% year to date. B Riley Securities analyst Naved Khan initiated coverage with a Buy rating and a price target of $28. Khan believes that the company's core listings business is set to benefit from increases in unit pricing, despite an increased churn rate due to price increases to dealers. The analyst also noted that ongoing normalization in dealer inventory, OEM production, and consumer demand are positives for CARG.
July 20, 2023 | 3:12 pm
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CarGurus' shares have risen more than 65% YTD. B Riley Securities analyst Naved Khan initiated coverage with a Buy rating and a price target of $28. The company's core listings business is set to benefit from increases in unit pricing.
The positive outlook from B Riley Securities analyst Naved Khan, including a Buy rating and a price target of $28, is likely to boost investor confidence in CarGurus. The company's core listings business is expected to benefit from increases in unit pricing, which could lead to further stock price increases.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100