RBC Capital Downgrades Carvana to Underperform, Raises Price Target to $30
Portfolio Pulse from richadhand@benzinga.com
RBC Capital analyst Brad Erickson has downgraded Carvana (NYSE:CVNA) from Sector Perform to Underperform, while raising the price target from $9 to $30.

July 20, 2023 | 9:39 am
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Carvana's rating has been downgraded to Underperform by RBC Capital, which could negatively impact the stock. However, the price target has been raised to $30, which may offset some of the negative impact.
The downgrade to Underperform suggests that the analyst believes Carvana's stock will underperform the market or its sector in the near term, which could lead to a decrease in its stock price. However, the increase in the price target from $9 to $30 indicates a higher valuation for the company, which could potentially attract investors and offset some of the negative impact of the downgrade.
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