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Fly News Breaks for August 7, 2019
CARG
Aug 7, 2019 | 06:21 EDT
JMP Securities analyst Ronald Josey lowered his price target on CarGurus to $50, saying that while the company topped Q2 expectations, its traffic and session growth decelerated on tougher comps. The analyst maintains his Outperform rating citing the faster rate of growth in leads, but adjusts his implied 2020 enterprise value to revenue multiple to 8-times from 9-times.
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