** 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))
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