Citizens JMP analyst Nicholas Jones raised the firm’s price target on Carvana (CVNA) to $340 from $320 and keeps an Outperform rating on the shares. Carvana reported strong Q4 results, with retail unit growth accelerating to more than 50% year over year from 34% last quarter, and above consensus growth of 43%, the analyst tells investors in a research note. Management intends to continue to lean into growth while still working to achieve additional fundamental efficiency gains, the firm says.
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