Barclays raises Carvana price target to $94 despite debt concerns amid strong growth.

Barclays increased its price target for Carvana to $94 and maintained an "Overweight" rating, reflecting confidence in the company's strong operational growth, including a 40% rise in retail unit sales and a record Adjusted EBITDA of $672 million. However, concerns remain about Carvana's heavy debt and spending, which could impact future profitability. The company is also expanding into new-car sales by acquiring physical dealerships, but its stock has declined 20% year-to-date due to competitive pressures in the auto retail market.