TRUE - TrueCar rallies after BTIG calls outs good buying opportunity

TrueCar (TRUE) breaks higher in early trading after BTIG is the latest firm to turn bullish.The firm thinks the stock is a good way to capitalize on the corporate revival."TRUE had a constructive earnings report last week, in our view, but has essentially round-tripped back to its pre-earnings stock price. We see this as an opportunity to buy into TRUE’s ongoing turnaround, which we believe is gaining increasing momentum. About this time last year, TRUE's business model was in freefall with USAA’s unexpected exit and COVID-19 just beginning to strike the economy. Since then, TRUE has made impressive progress over the past year, culminating in $6MM of positive EBITDA generation last quarter despite the end of USAA transition payments."The firm also expects the Navy Federal partnership to greatly stabilize the platform and sees a meaningful reduction in fixed costsBTIG assigns a new price target of $7.25, which is based on

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TrueCar rallies after BTIG calls outs good buying opportunity