RBC Capital adjusted its retail unit cohort model, citing Street estimates for FY26 and FY27 market share gains as overly aggressive.
RBC Capital reduced its price target on Carvana Co. (CVNA) to $85 from $92 while maintaining an Outperform rating. The firm updated its retail unit cohort model to assess market share expectations in Street estimates for FY26 and FY27, which it views as more aggressive than prior years.
Carvana, an eCommerce platform for used cars, recently saw its subsidiary ADESA launch ADESA Timed, a digital wholesale auction enhancement. The new offering aims to expand access to ADESA’s digital buyer base with added transparency and efficiency.
The adjustment follows RBC’s analysis of embedded market share assumptions, though the firm retained its positive outlook on the stock.