Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
Investing.com - JMP Securities has reiterated its Market Outperform rating on Carvana (NYSE:CVNA) with a price target of $460.00.
The research firm maintained its positive outlook on the online used car retailer despite recent developments in the automotive e-commerce space.
JMP specifically addressed the launch of Amazon Autos by Amazon (NASDAQ:AMZN), indicating it does not view this new entrant as a competitive threat to digital auto retailers like Carvana .
The firm has assigned Amazon a Market Outperform rating with a price target of $285.
JMP’s maintained confidence in Carvana suggests the firm believes the company’s business model remains strong despite potential new competition in the online automotive retail sector.For deeper insights into Amazon’s financial health and growth prospects, InvestingPro subscribers can access 12 additional key tips and a comprehensive Pro Research Report, helping investors make more informed decisions about this retail giant’s expansion into new markets.
In other recent news, Amazon has been in the spotlight with several key developments. The company announced the expansion of its same-day perishable grocery delivery service to over 1,000 U.S. cities, with plans to reach more than 2,300 cities by the end of 2025. This move has prompted Telsey Advisory Group to reiterate its Outperform rating and maintain a price target of $265, noting the competitive edge it provides against grocery rivals. Meanwhile, Cantor Fitzgerald highlighted growing momentum in Amazon’s Project Kuiper satellite initiative, maintaining an Overweight rating and a $280 price target. The project has already seen four successful satellite launches, with plans for commercial beta service launch later this year or early 2026. Additionally, Citizens JMP analyst Andrew Boone raised the price target for Amazon to $285, citing observations in the company’s automotive marketplace operations. Morgan Stanley also reaffirmed its Overweight rating, pointing to improved returns on invested capital following increased capital expenditures. These developments reflect Amazon’s strategic growth initiatives across various sectors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.