Cars.com upgraded to Buy from Hold at Craig-Hallum
Cars.com upgraded to Buy from Neutral at B. Riley Securities 07:22 CARS B. Riley Securities analyst Lee Krowl upgraded Cars.com to Buy from Neutral with a price target of $11, up from $9. Recent data points highlight a recovery in consumer auto demand, offset by persistent new and used inventory headwinds, Krowl tells investors in a research note. The analyst upgrades Cars.com following the company's preliminary Q3 results that saw better than expected net dealer growth and $48M in proactive debt repayments. His prior Neutral stance was predicated on dealer retention and leverage issues, "both of which saw notable improvements" during Q3.
Cars.com upgraded to Buy from Neutral at B. Riley Securities 07:22 CARS B. Riley Securities analyst Lee Krowl upgraded Cars.com to Buy from Neutral with a price target of $11, up from $9. Recent data points highlight a recovery in consumer auto demand, offset by persistent new and used inventory headwinds, Krowl tells investors in a research note. The analyst upgrades Cars.com following the company's preliminary Q3 results that saw better than expected net dealer growth and $48M in proactive debt repayments. His prior Neutral stance was predicated on dealer retention and leverage issues, "both of which saw notable improvements" during Q3.