Morgan Stanley analyst Daniela Haigian reiterated a Buy rating on Carvana Co yesterday and set a price target of $450.00.
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Daniela Haigian’s rating is based on Carvana Co’s significant competitive advantages and strategic positioning in the auto retail market. The company’s Haines City reconditioning center, which is notably larger than its competitors, exemplifies its scale and vertical integration capabilities. Carvana’s ability to manage the entire reconditioning process in-house, from inspection to delivery, is enhanced by its proprietary software ‘Carli,’ which optimizes operations through predictive machine learning.
Moreover, Carvana’s investment in internal repair capabilities reduces costs and time, as seen in their ability to perform tasks like paintless dent removal and interior repairs internally. The company’s focus on technological advancements and operational efficiency, along with its potential for significant market growth, supports the Buy rating with a projected 40% upside to the price target and a 115% upside in a bullish scenario.
In another report released yesterday, Citi also reiterated a Buy rating on the stock with a $445.00 price target.