1154 ET - Carvana maintains its buy rating in the eyes of BofA Securities after revenue and free cash flow, among other metrics, performed well in 1Q. BofA analysts Michael McGovern and Justin Post note that the online used-car seller said it's seen limited negative impact from tariffs so far, though tariffs on auto parts could be a near-term risk for retail gross profit per unit. They also note that management outlined current capacity over 1 million annual units, indicating runway for growth, and a hint of TAM expansion by way of selling new cars through a recent franchise dealer acquisition. "With Carvana trading at 25x our 2026E Ebitda, we remain constructive on significant share gains in a low-penetration industry shifting online," say McGovern and Post. Shares rise 12% to $290.10. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
May 08, 2025 11:54 ET (15:54 GMT)
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