DA Davidson analyst Michael Baker raised the firm’s price target on Carvana (CVNA) to $260 from $220 but keeps a Neutral rating on the shares. The company reported another terrific quarter, beating on most important line items, with accelerating growth versus last quarter for the most part, the analyst tells investors in a research note. The firm adds however that while it is clear that Carvana is taking profitable share at a rapid pace, the issue is that after being up 284% in 2024, the stock has appreciated another 39% in the first seven weeks of this year.
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