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Fly News Breaks for February 3, 2020
CVNA
Feb 3, 2020 | 07:32 EDT
Baird analyst Colin Sebastian said his checks on Carvana suggest Q4 unit volumes were at or slightly above investor expectations. He did say however they could be offset by lower average selling prices. He adjusted his estimates and believes conservative guidance could limit the shares in the near-term but sees its disruptive e-commerce model continuing to take market share and drive numbers higher. Sebastian reiterated his Outperform rating and $87 price target on Carvana shares.
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