RBC Capital analyst Brad Erickson lowered the firm’s price target on Carvana (CVNA) to $440 from $500 and keeps an Outperform rating on the shares. The company’s Q4 was challenging with in-line units but a Gross Profit per Unit miss as Carvana is giving more economics back to customers than anticipated to prioritize volume growth, the analyst tells investors in a research note.
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