TrueCar raced into the public markets in May, and investors are now betting a rival could drive away with it.
Shares of TrueCar (TRUE) have surged 121% from its IPO price of $9. Now Goldman is placing an M&A premium of $32 on the online auto marketplace, implying a hefty 45% potential gain from its current price of $22.
The bank also boosted its probability of a deal from "low" to "medium," pointing to the fact that TrueCar is "the online auto platform closest to a car-buying transaction."
However, Goldman kept a "neutral" rating on whether to buy the stock.
