BTIG raised the firm’s price target on Carvana (CVNA) to $485 from $455 and keeps a Buy rating on the shares after its Q1 earnings beat. The company again delivered strong unit growth, with vehicles sold rising over 40% for the sixth consecutive quarter, the analyst tells investors in a research note, adding that the reconditioning headwind is also improving with labor hours per vehicle near all-time best levels in April.
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Read More on CVNA:
- Carvana Earns Buy Rating on Strong Unit Growth, Revenue Outperformance and Improving Profitability Outlook
- Carvana price target raised to $475 from $425 at Wells Fargo
- Carvana price target raised to $520 from $485 at UBS
- Carvana price target raised to $465 from $455 at JPMorgan
- Carvana price target raised to $440 from $350 at Baird