Analyst Chris Pierce of Needham reiterated a Buy rating on Carvana Co (CVNA – Research Report), retaining the price target of $340.00.
Chris Pierce has given his Buy rating due to a combination of factors that highlight Carvana Co’s strong growth potential and strategic advantages. The company’s innovative approach, which combines a digital storefront with physical inspection and reconditioning centers, positions it well in a fragmented and technologically underdeveloped industry. This unique model allows Carvana to achieve significant efficiency gains and cost advantages over its competitors, who operate at a lower scale.
Furthermore, the analyst’s price target reflects confidence in Carvana’s ability to sustain its growth trajectory. The projected valuation is based on a multiple of the company’s expected adjusted EBITDA for the fiscal year 2026, aligning with anticipated earnings growth through 2027. As Carvana continues to leverage its underutilized physical assets, it is expected to capture additional market share, reinforcing the Buy recommendation.
In another report released on March 5, Bank of America Securities also maintained a Buy rating on the stock with a $270.00 price target.