RBC Capital Raises Price Target on TrueCar (TRUE) to $10 Following 2Q Beat and Guidance
- Health, tech stocks extend Wall Street record-setting rally
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
RBC Capital reiterated a Sector Perform rating on TrueCar (NASDAQ: TRUE), and raised the price target to $10.00 (from $6.00), following the company's 2Q earnings report. Revenue was $66.4MM and above Street estimates of 65.5MM and slightly above guidance of $64-66MM. Q3 Revenue/EBITDA guidance is $70-72MM / $1-$1.5MM vs. Street ests of $75.4MM/$600K.
Analyst Mark Mahaney commented, "Q2 results were better than expected, but Q3 topline guidance was below the Street. In terms of the FY16, management lowered Rev guidance but raised EBITDA. Material changes are necessary and appear underway, with Autonation returning to the platform. We raise our ’17 EBITDA estimates and PT to $10 but maintain Sector Perform."
Shares of TrueCar closed at $9.93 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Broadcom Ltd. (AVGO) to $207 Following 4Q Beat
- UBS Raises Price Target on Dick's Sporting Goods (DKS) to $69
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings, Mark Mahaney
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!