Karooooo price target raised to $51 from $46 at Raymond James

Raymond James raised the firm’s price target on Karooooo (KARO) to $51 from $46 and keeps an Outperform rating on the shares. Karooooo delivered record net new subscriber additions in Q3, and the firm remains excited about the next 1-2 year opportunity for Karooooo to inflect growth on a combination of increasing hiring expectations, leading scale in some of its core Southeast Asia and Africa markets, a growing cross-sell motion, and its upcoming nextgen platform launch, the analyst tells investors in a research note.