CarGurus price target raised to $42 from $40 at JPMorgan

JPMorgan analyst Rajat Gupta raised the firm’s price target on CarGurus (CARG) to $42 from $40 and keeps an Overweight rating on the shares. The company’s Q4 results were largely in-line to modestly ahead of estimates, the analyst tells investors in a research note. The firm says the continuation of strong sales results has been a result of ongoing traction on existing and new product initiatives as CarGurus gets deeper into the dealer workflows.