Needham Maintains Buy on TrueCar, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Chris Pierce maintains a Buy rating on TrueCar (NASDAQ:TRUE) but lowers the price target from $4.5 to $4.
April 30, 2024 | 5:26 pm
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Needham maintains a Buy rating on TrueCar but lowers the price target from $4.5 to $4.
The maintenance of a Buy rating by Needham suggests a positive outlook on TrueCar's fundamentals, potentially encouraging investor confidence. However, the reduction in the price target from $4.5 to $4 indicates a tempered expectation for the stock's short-term price performance. This mixed signal could lead to a neutral short-term impact on TrueCar's stock price as investors weigh the positive rating against the lowered price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100