Morgan Stanley analyst Daniela Haigian maintained a Buy rating on Carvana Co today and set a price target of $450.00.
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Daniela Haigian has given his Buy rating due to a combination of factors, emphasizing that the recent share pullback, following a softer fourth quarter, creates an appealing entry point relative to her $450 price target and implied upside. While acknowledging near-term pressure from higher reconditioning expenses, she views these as largely temporary growing pains tied to ramping newer production facilities, with management signaling improvement in unit profitability beginning in the first quarter.
Haigian also cites strengthening fundamentals in Carvana’s vertically integrated financing platform, noting consistent loan sale spreads, solid execution in unit growth, and sizable forward purchase commitments that help buffer funding risk. In addition, she highlights a healthier balance sheet, with leverage now at the low end of dealer peers, and sees planned ADESA site buildouts and integrations as supportive of the next phase of scalable growth despite somewhat higher capex, collectively underpinning a favorable risk‑reward profile for the stock.
According to TipRanks, Haigian is an analyst with an average return of -9.1% and a 38.46% success rate.
In another report released today, BTIG also maintained a Buy rating on the stock with a $455.00 price target.