JMP Securities raised the firm’s price target on Carvana (CVNA) to $320 from $200 and keeps an Outperform rating on the shares. Carvana reported strong Q3 results, with retail unit growth improving sequentially to 34% year over year, exceeding estimates, the analyst says in a research note. The firm thinks investors do not fully appreciate Carvana’s ability to continue driving significant unit growth while also delivering strong margins.
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