Tuesday, March 12, 2024 5:57:13 AM
On Tuesday, Carvana Co. (NYSE:CVNA) stock saw an adjustment in their market outlook as Jefferies shifted its perspective on the online used car retailer. The firm upgraded its rating from Underperform to Hold and significantly increased the price target for Carvana's stock to $85 from the previous $30.
The upgrade comes as Jefferies noted Carvana's recent expansion in Retail Gross Profit per Unit (GPU), which indicates that the company's operational adjustments might be leading to sustainable improvements in unit economics.
The analyst from Jefferies highlighted that Carvana's progress toward achieving positive cash flow has lessened downside risks, presenting a more balanced risk-reward scenario for investors.
https://uk.investing.com/news/stock-market-news/jefferies-upgrades-carvana-stock-to-hold-on-improved-unit-economics-93CH-3377114
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 10:26:41 PM
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- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 09:28:17 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 11:42:27 PM
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