Watching Carvana Co.; J.P.Morgan Issues Note Saying "Raise Q3 Estimates On Favorable Wholesale/ Retail Spread, Healthy ABS Deals, And Better Units; Comfort Around Operating Leverage On Growth Needed To Change View; Remain UW"
Portfolio Pulse from Happy Mohamed
J.P.Morgan has issued a note on Carvana Co., raising Q3 estimates due to favorable wholesale/retail spread, healthy ABS deals, and better units. However, the bank remains Underweight (UW) on the stock, indicating a need for comfort around operating leverage on growth to change its view.
October 04, 2023 | 2:41 pm
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J.P.Morgan has raised its Q3 estimates for Carvana Co. due to favorable conditions, but remains Underweight on the stock, indicating a potential downside risk.
J.P.Morgan's note indicates a positive outlook for Carvana's Q3 performance due to favorable conditions. However, the bank's Underweight rating suggests that it sees potential downside risk for the stock, which could negatively impact its short-term price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100