BofA raised the firm’s price target on Carvana (CVNA) to $515 from $455 and keeps a Buy rating on the shares after the company recently expanded its new car sales footprint to the Bay Area. While the firm expects Carvana’s efforts in new cars to remain a small piece of the overall pie in the near-term, it still likes total addressable market expansion as “a 2026 catalyst,” the analyst tells investors.
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