Morgan Stanley Maintains Underweight on Carvana, Lowers Price Target to $32
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Adam Jonas has maintained an Underweight rating on Carvana (NYSE:CVNA) and reduced the price target from $37 to $32. This adjustment reflects a more cautious stance on the company's stock.
November 17, 2023 | 1:00 pm
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Morgan Stanley's analyst has reiterated an Underweight rating on Carvana and lowered the price target, indicating a bearish outlook on the stock.
The reduction in price target by a major financial institution like Morgan Stanley suggests a negative outlook on Carvana's stock performance in the short term. This could lead to a decrease in investor confidence and potentially a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100