J.P. Morgan analyst Rajat Gupta CFA maintains $Carvana (CVNA.US)$ with a buy rating, and adjusts the target price from $185 to $230.
According to TipRanks data, the analyst has a success rate of 62.8% and a total average return of 14.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Carvana (CVNA.US)$'s main analysts recently are as follows:
The firm is revising its expectations upwards for Carvana, noting that a combination of factors is contributing to year-over-year retail gross profit per unit improvements. The firm's forward-looking valuation is based on the projection that Carvana will achieve $52 billion in revenue by 2032, equating to approximately 5% of the U.S. used car market.
The firm's estimates for Q3 and Q4 EBITDA have been revised upwards, taking into account an uptick in unit sales, which is believed to be the result of improved trends in the used vehicle industry and a broader selection of inventory. Additionally, there's been a more favorable outcome than anticipated regarding the excess spreads on asset-backed securities deals. It's observed that with each passing quarter, Carvana's competitive advantage appears to be expanding.
Note:
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