B. Riley raised the firm’s price target on CarGurus (CARG) to $40 from $30 and keeps a Buy rating on the shares. The firm is “incrementally more positive” on CarGurus post the “strong” Q3 results. The company’s core marketplace saw further pickup in growth in Q3, and we the midpoint of the Q4 outlook suggests the accelerating trend is likely to continue, the analyst tells investors in a research note.
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