RBC Capital Upgrades TrueCar (TRUE) to Outperform

RBC Capital upgraded TrueCar (NASDAQ: TRUE) from Sector Perform to Outperform with a price target of $17.00 (from $12.00) based on Four Positive Set-Ups related to the company’s Fundamentals, TAM, Macro Environment, and Valuation/

Analyst Mark Mahaney commented, "After a dramatic 80% price correction from late 2014 to early 2016 due to execution errors, TRUE shares have rebounded strongly over the past 9 months, tho they remain at half their peak levels. And we believe, based in part on discussions with management during Q4, our updated TAM analysis, and our review of the U.S. Car sales markets, that TRUE fundamentals are likely to outpace (potentially materially) Street estimates going forward. Given reasonable current valuation, we believe this creates a set-up for stock outperformance. Hence the upgrade."

For an analyst ratings summary and ratings history on TrueCar click here. For more ratings news on TrueCar click here.

Shares of TrueCar closed at $13.23 yesterday.

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