Fly News Breaks for January 22, 2020
Jan 22, 2020 | 06:29 EDT
Citi analyst Nicholas Jones says his data suggests that Carvana is on pace to beat Q4 consensus estimates for retail units by 6% (and retail revenue by 4.1%. nits per day marginally decreased by three units per day in December from November but increased by 247 units per day from December 2018, Jones tells investors in a research note. The analyst believes Carvana shares have declined due to competing third-party data providers highlighting the decline in unit growth in December. However, a marginal decline in units per day when growing nearly 100% year-over-year does not warrant a change in to the investment thesis, Jones contends. He remains positive on Carvana shares with a Buy rating.
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