TrueCar price target raised to $4.50 from $3.75 at BTIG

BTIG raised the firm’s price target on TrueCar (TRUE) to $4.50 from $3.75 and keeps a Buy rating on the shares as part of a broader research note on Auto Marketplaces. The firm notes that short-term drivers such as rising new car days supply metrics are supportive, though there is also a longer-term secular case for the online auto marketplace sector, underpinned factors that include: Ad budgets are below normalized levels, digital sales reduced sales force expense, and Auto marketplaces are growing in relevance, the analyst tells investors in a research note.