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Citi doubles price target on Carvana (CVNA) following 4Q

February 27, 2023 7:41 AM EST

Citi reiterated a Neutral rating on Carvana (NYSE: CVNA) and doubled their price target on the stock to $11.00 (From $5.50) after the company reported 4Q earnings results last week.

Carvana reported 4Q22 revenue 8% below consensus as retail unit sales declined 23% Y/Y and adj. EBITDA loss of $(291M) versus consensus of $(203M). Analyst, Ronald Josey wrote in a note... More