Deutsche Bank analyst Emmanuel Rosner lowered the firm’s price target on Carvana to $10 from $16 and keeps a Hold rating on the shares. The company’s "soft" Q4 performance largely reflected the near-term challenges associated with the waning macro backdrop, with volumes declining again year-over-year, driven by weakening consumer demand amid rising interest rates and limited vehicle affordability, the analyst tells investors in a research note. The firm believes there is transition period that may last for a couple of years before Carvana can refocus on sales growth.
Published first on TheFly
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