Option Millionaires

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Carvana price target lowered to $142 from $230 at Cowen
Cowen analyst John Blackledge lowered the firm's price target on Carvana to $142 from $230 and keeps an Outperform rating on the shares. The analyst noted the company released an investor deck providing an update on its operating strategy. He raised his EBITDA estimates 2022-2027, but also raised his cost of capital assumptions in his DCF given recent financing, in turn, cutting his target.