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.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVNA:
- Carvana price target raised to $300 from $230 at JPMorgan
- 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