Piper Sandler Downgrades Carvana to Neutral, Raises Price Target to $48
Portfolio Pulse from richadhand@benzinga.com
Piper Sandler analyst Alexander Potter has downgraded Carvana (NYSE:CVNA) from Overweight to Neutral, while raising the price target from $29 to $48.
July 21, 2023 | 8:49 am
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NEUTRAL IMPACT
Carvana's rating has been downgraded to Neutral from Overweight by Piper Sandler, but the price target has been raised to $48 from $29.
The downgrade to Neutral suggests that Piper Sandler sees limited upside potential for Carvana's stock in the near term. However, the raised price target indicates that they still see some value in the stock. This could lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100