What's Going On With Carvana's Stock?
Portfolio Pulse from Erica Kollmann
Carvana Co. (NYSE:CVNA) shares are trading higher, up more than 10% in the past five days. The company reported its best first-quarter financial results, repurchased $250 million of 2028 Senior Secured Notes, and raised $350 million through its ATM program. Analysts from JMP Securities and JP Morgan raised their price targets for Carvana to $150.
June 10, 2024 | 2:42 pm
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POSITIVE IMPACT
Carvana's stock is up over 10% in the past five days following its best first-quarter financial results, repurchase of $250 million in notes, and raising $350 million in equity. Analysts have raised their price targets to $150.
The positive financial results, strategic repurchase of notes, and successful equity raise are strong indicators of Carvana's improved financial health. The raised price targets from analysts further support a bullish outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100