Jefferies Downgrades Carvana to Underperform, Lowers Price Target to $30
Portfolio Pulse from richadhand@benzinga.com
Jefferies analyst John Colantuoni has downgraded Carvana (NYSE:CVNA) from Hold to Underperform and lowered the price target from $55 to $30.
July 31, 2023 | 9:04 am
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NEGATIVE IMPACT
Carvana's stock rating has been downgraded by Jefferies from Hold to Underperform, with a reduced price target of $30.
The downgrade by Jefferies from Hold to Underperform indicates a negative outlook for Carvana. The lowered price target from $55 to $30 suggests that the analyst believes the stock is overvalued at current levels. This could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100