BofA moved Carvana to No Rating. The firm previously rated Carvana with a Neutral rating and $12 price target. The analyst believes that without a cash infusion, Carvana is likely to run out of “easily and cheaply” available cash by the end of the year, and while there is a possibility of a cash infusion, it is “impossible to predict if and when that would occur.”
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CVNA:
- CVNA Stock Dips Following Analyst Concerns
- Carvana call volume above normal and directionally bullish
- Why Investors Should be Leery of Carvana Stock’s (NYSE:CVNA) 56% Pop
- Carvana up fractionally as short-seller Kerrisdale calls stock ‘worthless’
- Carvana down 4% in pre-market following Kerrisdale short call