Oppenheimer initiates Hagerty stock with Outperform rating on classic car niche

Oppenheimer has initiated coverage of Hagerty, a company specializing in classic car insurance and valuation, with an 'Outperform' rating. This move highlights the growing interest in the classic car market, which has shown resilience and potential for significant returns. Investors are keen to tap into this niche, as classic cars not only serve as a passion investment but also as a hedge against inflation. Oppenheimer's endorsement could attract more attention to Hagerty and the classic car sector, making it a noteworthy development for both collectors and investors.