Baird analyst Craig Kennison raised the firm’s price target on Carvana (CVNA) to $240 from $160 and keeps a Neutral rating on the shares. The firm said they reported exceptional results demonstrating rapid share gains and impressive profit growth. Retail volume surged 34% to 108,651 vehicles and the pace is expected to accelerate in Q4.
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Read More on CVNA:
- Carvana price target raised to $300 from $230 at JPMorgan
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- Carvana reports Q3 revenue $3.66B, consensus $3.45B
- Carvana sees Q4 adjusted EBITDA at high end of $1B-$1.2B range