Oppenheimer lowered the firm’s price target on CarGurus (CARG) to $42 from $44 and keeps an Outperform rating on the shares. The firm notes the stock traded off 17% on Friday after guiding Q1 marketplace revenue to decelerate 2pts to about 13% that reflects moderating U.S. QARSD throughout 2024 on tougher comparable sales. Management indicated limited change to dealer behavior despite potential tariffs, and constructed a positive tone toward dealers adopting higher pricing products, Oppenheimer adds.
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