UBS initiated coverage of Carvana (CVNA) with a Buy rating and $450 price target The firm says the company has a “differentiated, best-in-class” online platform and customer experience that positions it to gain share in the large used vehicle market. Carvana’s EBITDA can continue to grow at 25% annually through the remainder of this decade, supporting a premium valuation, the analyst tells investors in a research note.
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