Benchmark Co. Thinks TrueCar’s Stock is Going to Recover

By Jason Carr

Benchmark Co. analyst Daniel Kurnos maintained a Buy rating on TrueCar (NASDAQ: TRUE) yesterday and set a price target of $18. The company’s shares closed yesterday at $9.88, close to its 52-week low of $8.88.

Kurnos commented:

“We think management has the right strategy in place to achieve FY18 numbers, but are expecting a more back-half weighted year than the street.”

According to TipRanks.com, Kurnos is a 4-star analyst with an average return of 8.2% and a 49.5% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Sinclair Broadcast, and 1-800 Flowers.com.

TrueCar has an analyst consensus of Moderate Buy, with a price target consensus of $14.96.

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The company has a one-year high of $21.75 and a one-year low of $8.88. Currently, TrueCar has an average volume of 1.92M.

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TrueCar, Inc. engages in the operation of data-driven online platform which provides dealers and automakers with automobile information. It provides pricing transparency about what other people paid for their cars. The company products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car.