Wells Fargo Keeps a Buy Rating on Carvana Co (CVNA)

Wells Fargo analyst Zachary Fadem maintained a Buy rating on Carvana Co (CVNAResearch Report) today and set a price target of $85. The company’s shares closed yesterday at $57.91.

Fadem commented:

“We model EBITDA margin improvement (of 590bps) to -4.6%, which is at the midpoint of the guidance (-5.5-3.5%).”

According to TipRanks.com, Fadem is a 5-star analyst with an average return of 10.9% and a 69.6% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Advance Auto Parts.

Carvana Co has an analyst consensus of Moderate Buy, with a price target consensus of $72.56, a 25.3% upside from current levels. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $80 price target.

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The company has a one-year high of $76.85 and a one-year low of $28.44. Currently, Carvana Co has an average volume of 1.52M.

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Carvana Co. is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experience. It operates through the following segments: Vehicle Sales; Wholesale Vehicle Sales; and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle to customers through website.