RBC Capital raised the firm’s price target on CarGurus (CARG) to $42 from $30 and keeps an Outperform rating on the shares after its Q3 earnings beat. The company’s core marketplace’s consistency continues to impress, CarOffer is showing some signals of improvement, and CarGurus’s favorable Marketplace mix shift is driving upside to margins, while its capital return is accelerating, the analyst tells investors in a research note.
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