Citi analyst Ronald Josey lowered the firm’s price target on Carvana (CVNA) to $280 from $320 and keeps a Buy rating on the shares. The firm says its tracking of retail unit sales on Carvana.com suggests Q1 retail unit sales of 134,000 units, up 46% year-over-year. While encouraged with the better than expected Q1 results, Citi is watching for any potential slowdown in demand given increasing macro uncertainty following the announced tariffs.
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