Evercore ISI analyst Michael Montani has maintained their neutral stance on CVNA stock, giving a Hold rating on January 29.
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Michael Montani has given his Hold rating due to a combination of factors surrounding Carvana Co’s stock. While there is an anticipated positive momentum with Carvana expected to outperform in the upcoming quarters, the market volatility poses a substantial risk. Carvana has shown robust performance year-to-date compared to its peers, but the high expectations set for its upcoming earnings release create a challenging benchmark to surpass.
Despite potential upside, concerns such as macroeconomic uncertainties and credit risks remain prevalent. These factors, coupled with the industry-wide implications of tariffs and the high volatility typically observed around earnings releases, suggest a cautious approach. Montani acknowledges the positive industry trajectory and Carvana’s promising execution momentum but remains wary of the downside risks should sales trends decline or EBITDA expectations fall short.
In another report released on January 29, Jefferies also maintained a Hold rating on the stock with a $225.00 price target.