00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Bank of America Securities maintained a buy rating on Carvana with a $400 price forecast
00:07after a virtual investor meeting, according to Benzinga. The analysts cited improving
00:12fundamentals, including a rebound in gross profit per unit and better cost leverage.
00:17The company is gaining market share and is positioned to become the largest
00:20independent used car dealer in the U.S. by volume. Its vertically integrated model supports
00:26economics and financing performance. Investments in faster delivery and facility expansion may raise
00:32near-term expenses but support long-term efficiency. Financing trends remain stable with tighter
00:37underwriting and improved recoveries. The valuation assumes 20% revenue growth through 2032 and higher
00:44margins, with risks tied to capital intensity, debt, macro demand, and tariffs. Shares were up by 1.8%
00:51at $305 in pre-market trading on Wednesday, according to Benzinga Pro.
00:56For all things money, visit Benzinga.com.
Comments