Wells Fargo lowered the firm’s price target on Carvana (CVNA) to $290 from $310 and keeps an Overweight rating on the shares. The firm says late April/May Auto Service/eAuto setups are tricky, but sees a Q1 retail unit/Adj EBITDA beat for Carvana. Quarter-to-date trends and idiosyncratic levers are key needle movers, Wells adds.
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