RBC Capital adjusted its model for Carvana, citing aggressive market share gain expectations in Street estimates for FY26 and FY27.
RBC Capital lowered its price target on Carvana (CVNA) to $85 from $92 while keeping an Outperform rating on June 12, 2026. The firm updated its retail unit cohort model to assess market share expectations embedded in analyst estimates, concluding that implied gains for FY26 and FY27 appear more aggressive than in prior years.
Carvana has seen mixed price target adjustments recently. Baird raised its target to $88 from $80 in May, while Barclays cut its target to $93 from $475, both maintaining positive ratings. Barclays noted solid retail volume growth, though below the 40% pace of the last six quarters.
Carvana operates an e-commerce platform for used car transactions, facing scrutiny over its growth trajectory and market share projections.