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
€118.46
-2.480%
Our community is currently low on Carvana Co. with 4 Buy predictions and 9 Sell predictions.
A target price of 41 € results in a potential of -65.39% which would mean heavy losses compared to the current price of 118.46 € for Carvana Co..
