Hindenburg short on used car retailer Carvana
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JPMorgan Reiterates Overweight Rating on Carvana (CVNA)
January 3, 2025 4:51 AM ESTJPMorgan analyst Rajat Gupta reiterated an Overweight rating and $300.00 price target on Carvana (NYSE: CVNA).
The analyst comments "We believe the major CVNA-specific fundamental concern that Hindenburg Researchs report highlights is the unrealistic GPU, and in particular Other GPU and related practices around related party transactions for loan sales and warranty. The other key issue seems to be a broader concern around industry auto loan defaults/delinquencies. There are several other items highlighted, which in our view are known unknowns that investors have been cognizant of, and have absorbed over the... More
