- Goldman Sachs upgrades Vroom (NASDAQ:VRM) to a Buy rating from Neutral on what it calls a long runway of growth for the online car platform.
- Vroom is expected to continue to take market share from small auto dealers amid COVID-19.
- The GS analyst team thinks the current pullback is a buying opportunity with gross profit estimates pushed higher.
- The firm assign a price target of $60 to rep 29% upside potential from yesterday's closing price. The average Wall Street price target is $69.25.
- Shares of Vroom are up 7.69% in premarket action to $50.00.