Barclays analyst John Babcock lowered the firm’s price target on Carvana (CVNA) to $430 from $450 and keeps an Overweight rating on the shares. The firm adjusted estimates and targets in the auto retail group as part of a Q1 preview. Dealer estimates were cut on “soft” U.S. auto sales and weather impacts, the analyst tells investors in a research note. Barclays says the Middle East war impact has been limited thus far but could change if “demand takes a hit.”
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