News
Carvana gets an upgrade from Jefferies, which says momentum for car retailer is picking up
Published
7 months agoon
By
admin
Carvana , poised to capitalize on a shift to digital in the used car market, is a buying opportunity with more than 20% upside, according to Jefferies. Analyst John Colantuoni upgraded shares of the online used car retailer to buy from hold and hiked his price target to $475 from $385, signaling a 21% gain ahead. The firm’s surveys found that U.S. consumers prefer to sell and buy their cars online, a shift that can benefit Carvana. “The results of our consumer survey, proprietary web scape, and capacity analysis all support CVNA continuing to deliver elevated growth and upside to consensus,” Colantuoni wrote on Wednesday. “We also see fixed cost leverage helping supplement Revenue growth, supporting further expansion in unit economics and peer-high EBITDA growth.” He added that Carvana is “best-positioned to benefit from a nascent shift to digital in the massive $800B used car market.” CVNA 1D mountain Carvana, 1-day performance Carvana shares have already outperformed this year, surging more than 85% year to date. On Wednesday, the stock popped 1.4% in premarket trading. “We see valuation moving higher over time as the market gains comfort over CVNA’s long-term economics and market opportunity,” Colantuoni wrote. Most analysts covering Carvana are bullish. LSEG data shows 14 of 23 have a buy or strong buy rating.
This industrial giant is emerging as a big AI play, says Wells Fargo
Novo Nordisk’s strategy tested as investors push back on board revamp
Alibaba plans AI subscriptions, stablecoin-like payments with JPMorgan
UK borrowing costs spike on report government to scrap plans to raise income tax
Trump’s threatened the BBC with a $1B lawsuit: Here’s what’s going on
UBS’s picks for global returns next year
Wells Fargo sees Caterpillar continuing to roar higher, emerging as an artificial intelligence play. The bank initiated shares of...
Flags with the logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic...
Key Points Alibaba plans to use “tokenization” of payments for cross-border transactions in its business-to-business arm. Kuo Zhang, president...
Rachel Reeves, U.K. chancellor of the exchequer, delivers a speech in London, UK, on Tuesday, Nov. 4, 2025. Bloomberg...
US President Donald Trump speaks to reporters as he arrives at Palm Beach International Airport on Oct. 31,...
Investors looking for global diversification opportunities should look to a specific subset of stocks in Europe, according to UBS...
Eakarat Buanoi | Istock | Getty Images LISBON, Portugal — Top tech executives told CNBC they’re concerned about...
Tan Su Shan, deputy chief executive officer and managing director of institutional banking at DBS Group Holdings Ltd., speaks during...
CHENGDU, CHINA – OCTOBER 18: People walk past the Louis Vuitton store at Taikoo Li, a high-end shopping area that...
The United States said Thursday it will remove tariffs on some foods and other imports from Argentina, Ecuador, Guatemala and...
