Citi raised the firm’s price target on Carvana (CVNA) to $550 from $445 and keeps a Buy rating on the shares. Citi’s retail unit sales tracker suggests Carvana’s November retail sales growth accelerated to 37% year-over-year from 32% in October. Citi believes the company is seeing strengthening demand trends. It upped Carvana’s EBITDA projections along with the price target
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVNA:
- Carvana price target raised to $550 from $475 at Jefferies
- Why Penny Stock Nextdoor Holdings (NXDR) Is Jumping for a Second Straight Day
- Why Carvana’s (CVNA) S&P 500 Promotion Silences Its Bearish Critics
- Carvana participates in a conference call with BTIG
- Carvana price target raised to $465 from $390 at Barclays