TRUE - TrueCar soars after earnings topper Benchmark upgrade

TrueCar (TRUE) is on watch after Benchmark Company upgrades the online auto retailer to a Buy rating from Hold. following the Q4 earnings report."We had considered pulling the trigger last quarter after it looked like management had truly cleaned up the story and begun to establish a consistent beat and raise pattern but operational questions around dealer stickiness and rebuilding relationships after the USAA split left us on the sidelines. We did not miss much as the stock has been volatile but ultimately flattish since after the last print."The firm says the color around the Navy Federal Credit Union win provides a much brighter, accelerated improvement outlook to go with the re-opening play and underlying margin improvement narrative. A more aggressive push by TrueCar into used and the concept that TrueCar can become a true digital retailing channel are also noted.Benchmark assigns a price target of $8 to TrueCar vs. the

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TrueCar soars after earnings topper, Benchmark upgrade