Cars.com price target raised to $23 from $20 at BTIG

BTIG raised the firm’s price target on Cars.com to $23 from $20 and keeps a Buy rating on the shares. The company’s Q4 results were "solid" with revenue ahead of guidance and healthy 4% dealer growth, excluding a single digital dealer customer whose difficulties have been well-reported, the analyst tells investors in a research note. The firm added that given the muted OEM advertising environment, along with still low inventory levels on dealer lots, Cars.com guidance was "solid" and does not embed substantial improvement in either of those two areas.