RBC Capital Maintains Underperform on Carvana, Raises Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Brad Erickson has maintained an Underperform rating on Carvana (NYSE:CVNA) but raised the price target from $24 to $45.
February 23, 2024 | 4:05 pm
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NEUTRAL IMPACT
RBC Capital maintains an Underperform rating on Carvana but increases the price target from $24 to $45.
While the Underperform rating suggests skepticism about Carvana's near-term prospects, the significant increase in price target from $24 to $45 indicates a more positive outlook on the company's valuation. This mixed signal could lead to neutral market reaction in the short term as investors weigh the unchanged negative rating against the improved price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90