Cars.com Poised To Claim Larger Share Of Ad Dollars, Analyst Initiates 'Buy' Rating
Portfolio Pulse from Priya Nigam
Shares of Cars.com Inc (NYSE:CARS) have increased by more than 55% year to date. The company is expected to experience sustainable growth in a large total addressable market estimated at $50 billion, according to B Riley Securities. Analyst Naved Khan initiated coverage of CARS with a Buy rating and a price target of $26. Cars.com's digital product suite is expected to claim a larger share of ad dollars. The company could also benefit from off-platform advertising and other solutions such as vehicle valuation, wholesale solutions, dealer website solution, and loan prequalification.
July 20, 2023 | 4:52 pm
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Cars.com is expected to experience sustainable growth and claim a larger share of ad dollars. The company could also benefit from off-platform advertising and other solutions. Analyst Naved Khan initiated a 'Buy' rating with a $26 price target.
The positive outlook from the analyst, the 'Buy' rating, and the potential for growth in ad dollars and other solutions are likely to have a positive impact on the stock price of Cars.com in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100