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Why Carvana Stock Jumped Higher Today

TheMotleyFool

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Shares of the online car marketplace Carvana (NYSE: CVNA) soared after an analyst upgraded the company's stock.

Carvana's stock has fallen 94% over the past 12 months, so today's positive sentiment from an analyst was a welcome change for shareholders. Shares were up 12.2% as of 3:31 p.m. ET.

J.P. Morgan analyst Rajat Gupta upgraded the stock to a neutral rating from the previous underweight rating and reiterated his price target of $20.

Source Fool.com

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