Evercore ISI is adding Carvana (CVNA) to the firm’s “Tactical Outperform” list ahead of the company’s appearance at a competitor conference today, CarMax (KMX) fiscal Q1 earnings due to be released on June 21, and Carvana’s IRC inspection center tour on June 25. The firm, which increased its retail used unit comp and EBITDA estimates for Q2 to reflect ongoing strength in its latest web traffic tracker report, looks for double digit upside for Carvana to the $115-$125 range, the analyst tells investors. Evercore has an In Line rating and $111 price target on Carvana shares.
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