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Vroom +8% after Goldman Sachs calls out upside

Sep. 22, 2020 7:26 AM ETVroom, Inc. (VRM) StockVRMBy: Clark Schultz, SA News Editor1 Comment
  • 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.

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