Carvana price target raised, added to ‘Tactical Outperform’ list at Evercore ISI

Evercore ISI analyst Michael Montani raised the firm’s price target on Carvana to $157 from $142 and keeps an In Line rating on the shares, on which the analyst has instituted a positive Tactical Trading Call while adding the stock to the firm’s “Tactical Outperform” list. The firm’s meeting with President and CEO Ernie Garcia, III and CFO Mark Jenkins last week showed their focus is on “delivering a great customer experience to drive sustainable share gain while eliminating pain points along the way,” says the analyst, who believes that the company is “well positioned for a beat and raise” Q3 print and a positive catalyst path for the next one and a half months.