Analyst: Carvana Stock a "Profitable Secular Growth Story"
CVNACarvana (CVNA) Schaeffers Investment Research·2024-07-10 22:33

Carvana Co (NYSE:CVNA) stock is 7.4% higher to trade at 135atlastlook,afterNeedhamupgradedthesharesto"buy"from"hold."Theanalyst,whichalsoassignedCVNAastreethighpricetargetof135 at last look, after Needham upgraded the shares to "buy" from "hold." The analyst, which also assigned CVNA a street-high price target of 160, said unit sales growth and gross profit per unit could push the used cars retail stock towards a "profitable secular growth story."The $160 price target is an 18.5% premium to Carvana stock's current perch, and it sits in territory not seen since February 2022. The security is already outperforming the bro ...