BTIG analyst Marvin Fong lowered the firm’s price target on Carvana (CVNA) to $455 from $535 and keeps a Buy rating on the shares after its Q4 results. Retail unit sales were strong but disappointing GPU, or Gross Profit per Unit, mainly at the retail GPU level, drove Adjusted EBITDA below Street expectation, the analyst tells investors in a research note.
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