Carvana price target raised to $155 from $150 at JPMorgan

JPMorgan raised the firm’s price target on Carvana to $155 from $150 and keeps an Overweight rating on the shares ahead of the Q2 report. The analyst expects another “beat and raise” quarter, saying Carvana continues to “buck the trend” on market share and margins. The firm believes there is likely to be continued share momentum driven by upward risk to consensus estimates, continued share gains and margin disconnect versus the company’s largest peers.