Why Carvana Stock Jumped Today
Shares of Carvana (NYSE: CVNA) were moving higher today after one analyst raised his price target on the online used car company, and Carvana benefited from a lower-than-expected inflation report, which will help keep interest rates from going higher.
As a result, the stock was up 10.4% as of 3:32 p.m. ET.
JMP Securities analyst Nicholas Jones raised his price target on Carvana from $25 to $50 and maintained an outperform rating on the stock, arguing that the company has significant potential to benefit from multiple expansions as it moves toward profitability.
Source Fool.com
Carvana Co. Stock
€57.12
-0.570%
With 57 Buy predictions and not a single Sell prediction Carvana Co. is an absolute favorite of our community.
Based on the current price of 57.12 € the target price of 398 € shows a potential of 596.78% for Carvana Co. which would more than double the current price.
