LOTZ - CarLotz jumps after Barrington points to compelling valuation

Barrington Research launches coverage on CarLotz (LOTZ) with an Outperform rating. "CarLotz is the industry's only used vehicle consignment and retail remarketing business with a technology-enabled data driven buying, sourcing and ecommerce selling model. We believe that CarLotz offers a compelling value proposition for both vehicle buyers and sellers offering a transformation growth opportunity in used vehicle retailing with a business model that is disintermediating traditional means of used vehicle remarketing. The company is rolling out a national presence to drive a network effect that should enhance shareholder value on a long-term basis." The firm assigns a price target of $22. Shares of LOTZ are up 4.50% premarket to $8.13. CarLotz was singled out by Seeking Alpha author Lisbon Stock Picks last month for upside.

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CarLotz jumps after Barrington points to compelling valuation