B. Riley analyst Naved Khan raised the firm’s price target on CarGurus to $30 from $28 and keeps a Buy rating on the shares. The firm is “incrementally positive” on CarGurus post the “strong” Q2 results, which it says saw accelerating growth in the core marketplace and higher than expected EBITDA. Given the enhanced dealer offerings and lead volumes, the analyst expects the company to continue to use price as a lever.
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