JPMorgan raised the firm’s price target on Carvana (CVNA) to $300 from $230 and keeps an Overweight rating on the shares post the Q3 report. The company’s core operations continue to exceed expectations while the marketplace re-entry demonstrates Carvana’s “infrastructure moat,” the analyst tells investors in a research note. The firm increased EBIDTA estimates, saying Carvana remains its top pick in the auto retail ecosystem.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVNA:
- Carvana Reports Record Third-Quarter Earnings in 2024
- Closing Bell Movers: Microsoft, Meta both down about 3% despite earnings beats
- Carvana reports Q3 revenue $3.66B, consensus $3.45B
- Carvana sees Q4 adjusted EBITDA at high end of $1B-$1.2B range
- Carvana participates in a conference call with Stephens