Why Carvana Stock Is Surging Today
(NYSE: CVNA) stock is posting big gains in Thursday's trading thanks to bullish analyst coverage. The company's share price was up 4.8% as of 2:15 p.m. ET and had been up as much as 11.7% earlier in the session.
Before the market opened this morning, Piper Sandler published new coverage on Carvana and upgraded its rating on the stock. Bank of America also issued coverage suggesting that Carvana is unlikely to face big pressures from Amazon's entry into the auto market.
Piper Sandler upgraded its rating on Carvana from neutral to overweight today. While the firm maintained its one-year price target of $225 per share, recent valuation pullbacks have pushed the stock into the buy range. As of this writing, Piper's price target still implies additional upside of roughly 22% for the stock.
Source Fool.com
Carvana Co. Stock
The stock is an absolute favorite of our community with 58 Buy predictions and no Sell predictions.
With a target price of 389 € there is a slightly positive potential of 1.46% for Carvana Co. compared to the current price of 383.4 €.
