JPMorgan analyst Rajat Gupta lowered the firm’s price target on Carvana (CVNA) to $490 from $510 and keeps an Overweight rating on the shares. The company reported a Q4 miss on gross profit per unit, the analyst tells investors in a research note. However, JPMorgan sees little risk to forward estimates citing Carvana’s “strong growth.” It modestly lowered estimates post the earnings print.
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- Carvana: Buy Rating Reaffirmed on Accelerating Growth and >50% Upside Despite Near-Term Margin Pressure
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