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.”
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Published first on TheFly
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