ACV Auctions price target raised to $27 from $24 at B. Riley

B. Riley analyst Naved Khan raised the firm’s price target on ACV Auctions (ACVA) to $27 from $24 and keeps a Buy rating on the shares post the Q3 report. ACV continues to “handily win share in a wholesale market that is slowly normalizing and seeing a return to positive growth,” the analyst tells investors in a research note. The firm says incremental positives post Q3 include a continued gradual recovery in the wholesale market in 2025 and ACV’s growing adoption by franchised dealers as well as wallet share gains.