After Hertz (HTZ) announced yesterday a new “strategic collaboration” with Amazon Autos (AMZN), BofA noted that Hertz and Carvana (CVNA) first partnered in 2021, but adds that the firm believes a “relatively small share” of Retail units sold on Carvana come from Hertz today. Hertz sells hundreds of thousands of units and Carvana represents one of several distribution channels for them, so the firm doesn’t expect significant impact on Carvana’s access to units, volumes, or margins from the Hertz collaboration with Amazon, adds the analyst, who keeps a Buy rating and $425 price target on Carvana shares.
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