- Berenberg analyst Saim Saeed initiated coverage of Cazoo Group Ltd (NYSE:CZOO) with a Sell rating and a $0.49 price target.
- The PT implies a 20% downside.
- Cazoo is an online car retailer present in the U.K., France, Germany, Spain, and Italy, Saeed noted.
- He thinks Cazoo faces a “much more competitive environment” in Europe, compounded by the necessity of a smaller than previously planned launch in the region that will limit its ability to catch up to competitors.
- Cazoo reported 159% revenue growth in Q1 to £295 million. Vehicles sold rose 102% Y/Y to 19,713.
- Price Action: CZOO shares traded lower by 7.56% at $0.60 on the last check Wednesday.
Trump Reportedly Seeks $1B In Campaign Funds From Exxon Mobil, Chevron, Other Big Oil Execs: Expert Calls It ‘Shocking’ But Perfectly Legal
It is unlikely to violate bribery laws as currently interpreted by the Supreme Court, as per Meredith McGehee, an independent expert on government ethics and campaign finance.
