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Analysts, Bulls Chime In on Carvana's First Annual Profit
CVNACarvana (CVNA) Schaeffers Research·2024-02-23 15:22

Carvana Co (NYSE:CVNA) stock is up 43.8% to trade at 75.34atlastcheck,despitethecare−tailer′sfourth−quarterprofitandrevenuemiss.Thecompanyreporteditsfirstannualprofit thankstodebtcutting,however.RaymondJamesupgradedthesecurityto"marketperform,"whileWilliamBlairraiseditsratingto"outperform."Anotherfiveanalystsliftedtheirpricetargets,includingJ.P.MorganSecuritiesto75.34 at last check, despite the car e-tailer's fourth-quarter profit and revenue miss. The company reported its first annual profit thanks to debt cutting, however. Raymond James upgraded the security to "market perform," while William Blair raised its rating to "outperform." Another five analysts lifted their price targets, including J.P. Morgan Securities to 65 from $40.The shares are trading at their highest level since April 2022, and on track for ...