Information Provided By:
Fly News Breaks for February 14, 2020
CARG
Feb 14, 2020 | 07:25 EDT
Benchmark analyst Daniel Kurnos noted that CarGurus finished 2019 with strong Q4 results, but that its 2020 guidance came in below consensus, mainly due to a material reduction in AARSD expectations. Although he fully expects a reset of growth forecasts from analysts and believes the company's ad campaign is likely to be perceived as the need to spend more to maintain market share, he thinks the the bar has been significantly lowered and the margin improvement path is still evident. Given this view, Kurnos would be a buyer on weakness and keeps a Buy rating on CarGurus shares, although he lowered his price target on the stock to $42 from $51.
News For CARG From the Last 2 Days
There are no results for your query CARG