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Fly News Breaks for March 18, 2019
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Mar 18, 2019 | 05:09 EDT
Goldman Sachs analyst Daniel Powell assumed coverage of TrueCar from analyst Heath Terry and maintained a Sell rating on the shares. He reduced the stock's price target to $6 from $7. Google search updates negatively impacted traffic growth in Q4 and the company expects continued pressure on traffic as it works to adjust its landing pages and user interface to adapt, Powell tells investors in a research note. The implications of slower spend growth amid structural challenges in traffic acquisition could disrupt long-term growth, Powell tells investors in a research note.
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