Carvana price target raised to $295 from $290 at BofA

BofA analyst Michael McGovern raised the firm’s price target on Carvana (CVNA) to $295 from $290 and keeps a Buy rating on the shares following a “beat & raise” report with 46% year-over-year unit sales growth. The firm is raising its “above-Street” units sold estimates and remains constructive on significant share gains in “a low-penetration industry shifting online,” the analyst tells investors in a post-earnings note.