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Fly News Breaks for February 15, 2019
Feb 15, 2019 | 08:43 EDT
Craig-Hallum analyst Steve Dyer downgraded TrueCar to Hold from Buy and lowered his price target to $10 from $14 following weak results and guidance. In a research note to investors, Dyer says he remains optimistic on the company's product pipeline and long-term stock opportunity, but he thinks shares will be range bound for the next several quarters as near-term challenges and limited visibility will be an overhang on shares. Dyer thinks 2019 will be another year of product development and execution, and the fundamental inflection with revenue growth reacceleration and meaningful margin expansion is likely a 2020 event.
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