Carvana initiated with a Hold at Gordon Haskett on limited multiple expansion

As previously reported, Gordon Haskett analyst Robert Mollins initiated coverage of Carvana (CVNA) with a Hold rating and $329 price target Carvana is a proven share gainer with room to continue expanding market share. However, with Carvana trading at a material premium to peers and recent tariff-driven demand pull-forward likely to pressure volumes over coming quarters, the firm sees limited multiple expansion ahead. While Carvana is in a stronger financial position than in prior years, Gordon Haskett views the company’s 5-10 year growth plan as a show-me story, and will look for sustainable execution against long-term targets before becoming more constructive on the shares.