Citi raised the firm’s price target on Carvana (CVNA) to $325 from $280 and keeps a Buy rating on the shares. The Q1 results underscore continued strong demand trends at Carvana, the analyst tells investors in a research note. The firm says that with the Q2 guidance calling for sequential growth in unit volumes, it believes Q1’s retail sales trend can continue into Q2. It cites Carvana’s continued execution and share gains for the target increase.
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