JPMorgan raised the firm’s price target on Carvana (CVNA) to $490 from $425 and keeps an Overweight rating on the shares. JPMorgan also added a “Positive Catalyst Watch” on Carvana into the Q3 report. The firm established a December 2026 price target for the stock versus December 2025 previously. Carvana should report “another beat and raise” this quarter, further solidifying the company’s operational “moat in the sector,” the analyst tells investors in a research note. JPMorgan believes investor concerns around the health of consumer and auto credit are overblown. Carvana should “douse the flames” when reporting earnings, JPMorgan contends.
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