Form 4 CARVANA CO. For: Mar 08 Filed by: BREAUX PAUL W.
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Jefferies upgrades Carvana (CVNA) on 'more attractive risk-reward'
March 12, 2024 1:23 PM EDTOn Tuesday, Carvana Co. (NYSE: CVNA) received an upgrade from Jefferies to a Hold rating, a shift from its previous Underperform status. The firm also increased its price target on the company's shares to $85, a significant jump from the earlier $30 per share forecast.
The upgrade is attributed to Carvana's recent expansion in Retail Gross Profit per Unit (GPU), which indicates that the company's operational adjustments may have led to sustainable improvements in unit economics. This progress, along with strides toward positive cash flow, has mitigated downside risk and created a more... More
