Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

2 Automotive Retailer Stocks Wall Street Predicts Will Rally by 35% or More

Stock MarketsAug 05, 2021 10:31AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters 2 Automotive Retailer Stocks Wall Street Predicts Will Rally by 35% or More

Because a global semiconductor chip shortage continues to negatively affect automobile production, the demand for used cars has increased as people seek to avoid public transport amid rising COVID-19 cases. Hence, Wall Street analysts expect auto retailers KAR Auction Services (KAR) and Cars.com (CARS) to rally by more than 35% in the near term. Read on for details.A global semiconductor chip shortage continues to pose supply challenges for new cars, which is driving up the prices of the used cars. According to the Bureau of Labor Statistics, used car and truck prices have increased 45.2% over the last 12 months, while car and truck rental costs have skyrocketed 87.7%.

With the resurgence of COVID-19 cases due to the rapid spread of its Delta variant, people are expected to continue using private cars rather than public transport, driving up the demand for used cars. Furthermore, with an increase in car-related services on digital platforms, the automotive retail industry could continue to gain significantly in the coming months.

Given this backdrop, we think it could be wise to bet on automotive retailer stocks KAR Auction Services, Inc. (KAR) and Cars.com Inc. (CARS). Wall Street analysts expect these two stocks to rally more by than 35% in the near term.

Continue reading on StockNews

2 Automotive Retailer Stocks Wall Street Predicts Will Rally by 35% or More
 

Related Articles

Europe needs long-term energy plan, Eni CEO says
Europe needs long-term energy plan, Eni CEO says By Reuters - Sep 25, 2021 2

MILAN (Reuters) - Soaring gas prices as winter approaches are evidence that the European Union needs to work out a long-term energy security plan, the head of Italy's Eni has told...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email