JPMorgan raised the firm’s price target on Carvana (CVNA) to $350 from $325 and keeps an Overweight rating on the shares ahead of the Q2 report. The firm expects a modest miss in Q2 for Carvana due to margin normalization. The analyst sees a high near-term bar for EBITDA but believes the company’s accelerating shared gains support positive forward estimate revisions.
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