Why Carvana Stock Just Raced Ahead 13%
Investors in online used car superstore Carvana (NYSE: CVNA) are having kind of a terrific day on Friday.
Investment bank RBC Capital Markets just doubled its price target on Carvana shares to $90 per share, and removed its sell rating on the stock, rerating the stock "sector perform." Markets responded immediately -- and Carvana stock is up 13.1% through 10:55 a.m. ET.
Up until today, RBC had insisted that Carvana was uninvestible, and predicted the stock would lose half its value, falling to $45 per share. The problem with that thesis, though, is that too many people agree with it, as explained in a StreetInsider.com write-up today.
Source Fool.com
Carvana Co. Stock
€113.06
2.820%
Currently there is a rather negative sentiment for Carvana Co. with 3 Buy predictions and 7 Sell predictions..
The target price of 33 € compared with the current price of 113.06 € for the stock indicates a negative potential of -70.81%.
