BTIG initiates coverage of SunCar with 'buy' rating

SunCar Technology

30/12/2024 16:24

** BTIG initiates coverage of China-based automotive service
provider SunCar Technology  SDA.O  with "buy" rating
    ** Brokerage says SDA is well-positioned to gain share in
China's automotive market
    ** Expects SDA's growth to increase as co puts greater focus
on insurance policy renewals, while a more business friendly
regulatory environment in China helps co increase insurance
commission rates
    ** BTIG sets PT at $12, a ~25.4% upside on stock's last
close 
    ** Including session's moves, stock up ~10% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))