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The bank lowered the stock's price target to $360 from $400.
Bank of America downgraded Carvana to neutral and cut its price target to $360.
KEY POINTS
- Carvana shares have dropped 26% in 2026 due to fallout from the Iran war.
- Higher gas prices post-Iran conflict are expected to reduce discretionary auto spending, especially among Gen Z.
- Rising 2-year yields threaten Carvana's lending competitiveness and profit margins.
- CarMax is lowering retail used unit margins, increasing competition for Carvana in car loans.
COMPANIES
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