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Morgan Stanley maintained its Overweight rating on Carvana (CVNA) with a 12-month price target of $90, implying roughly 25% upside from current levels.
Morgan Stanley analyst Daniela Haigian reiterated the firm's bullish stance, citing durable sales growth, underrated free cash flow, and cost savings that are expected to lift profit per car over time. The firm expects Carvana to trim over $900 in SG&A expenses per retail unit between 2025 and 2030, with capital spending remaining below 1% of sales. Carvana's stock is currently trading near $74 and is down about 7% for the year.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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