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Fly News Breaks for March 19, 2018
AUTO
Mar 19, 2018 | 09:14 EDT
Lake Street analyst Eric Martinuzzi halved his price target for AutoWeb to $6 following the company's weaker than expected Q4 results. The cost for high-converting search traffic rose much more than expected, Martinuzzi tells investors in a research note. He adds, however, that "uncertainty and fear can sometimes offer opportunity." The analyst believes car manufacturers and dealers will continue to seek quality leads for new car buyers, and he calls AutoWeb the leader in the space. Martinuzzi keeps a Buy rating on the shares.
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