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Fly News Breaks for February 27, 2020
CVNA
Feb 27, 2020 | 07:00 EDT
Stephens analyst Rick Nelson raised the firm's price target on Carvana to $90 from $75 after the company's Q4 unit sales topped estimates but its EBITDA loss fell short of consensus, as he had previewed. The midpoints of the company's guidance ranges for revenues, unit sales, and expected EBITDA losses were also worse than expected, noted Nelson, who believes the revenue and unit growth guidance appears conservative. Given that narrowing EBITDA losses have yet to be demonstrated, he keeps an Equal Weight rating on Carvana shares.
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