BTIG analyst Marvin Fong raised the firm’s price target on Carvana (CVNA) to $330 from $295 and keeps a Buy rating on the shares. The company beat across all key volume and margin metrics and impressed against high expectations, with retail units of 133.9K topping consensus of 126.2K, the analyst tells investors in a research note. The management also indicated there was only a temporary blimp of elevated activity due to tariffs, suggesting some other factor is at work in driving conversion.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVNA:
- Carvana price target raised to $310 from $290 at Wells Fargo
- Carvana’s Strong Financial Performance and Growth Potential Justifies Buy Rating
- Marvin Fong Raises Price Target for Carvana Co. Amidst Strong Performance and Growth Prospects
- Carvana Co: Strong Q1 Performance and Optimistic Outlook Justify Buy Rating
- Carvana’s Record Performance and Ambitious Growth Targets Drive Buy Rating