Carvana price target raised to $210 from $185 at BofA

BofA analyst Michael McGovern raised the firm’s price target on Carvana to $210 from $185 and keeps a Buy rating on the shares. With several factors driving year-over-year retail GPU gains, the firm is raising its price target and notes that its discounted cash flow valuation assumes that Carvana can get to $52B in revenue by 2032, which would represent approximaely 5% of the U.S. used car market.