From The Street of Dreams
$CVNA: Morgan Stanley analyst Andrew Percoco is moving Carvana to the analyst’s Top Pick following a “strong” Q3 print, telling investors that the decision to move the stock to Top Pick is “driven less by near-term estimate revisions and more by increased conviction in the model’s ability to compound profits through macro volatility.” The firm maintains an $88 price target and Overweight rating on Carvana shares.
CVNA:UBS raised the firm’s price target on Carvana to $84 from $83 and keeps a Buy rating on the shares.
CVNA: Needham lowered the firm’s price target on Carvana to $100 from $120 and keeps a Buy rating on the shares. Following the company’s Q3 results, the stock continues to screen as a compelling large-cap growth story, trading at an untaxing multiple against durable share gains driving unit and earnings growth ,though the firm’s reduced price target reflects a lower assumed earnings multiple due to higher prevailing interest rates, the analyst tells investors in a research note.
CVNA:BTIG lowered the firm’s price target on Carvana to $82 from $87 and keeps a Buy rating on the shares. The company reported a sound beat across all major metrics, but expenses were a bit heavier than expected across vehicle operations, overhead, and advertising, leading to a modest adjusted EBITDA beat of $800M vs. $791M expected, the analyst tells investors in a research note.
CVNA:BofA analyst Michael McGovern raised the firm’s price target on Carvana to $72 from $70 and keeps a Neutral rating on the shares. Carvana is executing well in a mixed macro backdrop, with improving reconditioning efficiency making up for the margin headwinds around financing and ad spend growth, the analyst tells investors in a post-earnings note.
$GOOGL: Morgan Stanley analyst Brian Nowak lowered the firm’s price target on Alphabet to $375 from $400 and keeps an Overweight rating on the shares. Alphabet is “not an expensive stock,” but Search innovation and faster growth are key to ar re-rating, the analyst tells investors in a post-earnings note.
GOOGL: Cantor Fitzgerald analyst Deepak Mathivanan lowered the firm’s price target on Alphabet to $350 from $420 and keeps an Overweight rating on the shares. Alphabet’s Q3 results missed key metrics, with EBIT 7% below estimates and Search growth slowing, driving a 10% after-hours share decline, but Cloud growth above 100%, record Search queries, strong TPU demand and continued Gemini innovation support its AI positioning and long-term upside, the analyst tells investors in a research note.The firm recommends buying shares on weakness.
GOOGL: Goldman Sachs analyst Eric Sheridan lowered the firm’s price target on Alphabet to $385 from $435 and keeps a Buy rating on the shares. Alphabet’s Q3 Search revenue missed expectations amid FX and tougher comparisons, while Cloud growth of 103% and a $561B backlog underscored strong demand constrained by compute capacity, the analyst tells investors in a research note. Agentic AI offers new growth opportunities but sharply rising capex of $203B in 2026 and an estimated $350B in 2027 pressures free cash flow, the firm says.
GOOGL: UBS lowered the firm’s price target on Alphabet to $332 from $380 and keeps a Neutral rating on the shares. Google missed Search and YouTube estimates, signaled more measured AI monetization, and saw Cloud margins stagnate despite rising TPU sales, raising concerns that over $100B in TPU revenue in 2027 could pressure EPS and free cash flow expectations, the analyst tells investors in a research note.
GOOGL: JPMorgan analyst Doug Anmuth lowered the firm’s price target on Alphabet (GOOG) to $375 from $425 and keeps an Overweight rating on the shares. The stock’s post-earnings selloff shows the margin for error when a hyperscaler spending hundreds of billions on the AI infrastructure buildout and flipping to negative free cash flow posts disappointing results, the analyst tells investors in a research note. JPMorgan points out that Google faced a tough search compare in Q3 and that management indicated currency was the single largest driver of the deceleration. The firm believes Google’s search headwinds “are more navigable than permanently structural.”
GOOGL: BofA analyst Justin Post lowered the firm’s price target on Alphabet to $380 from $430 and keeps a Buy rating on the shares after a Q3 revenue and EPS miss. Following the report, the firm raised its 2027 revenue estimate for the Cloud beat, additional TPU sales in its model and client facing SpaceX capacity additions in Q4, offset by lower Search, YouTube and subscription estimates. For 2027, BofA raised net revenue by 11% to $616B and lowered its EPS view by 1% to $14.87.
Note: I have previously sold my CVNA puts (for a nice profit)
Positions: Short CVNA VVS
