Jefferies Upgrade Boosts Carvana's Upside

25 days ago

Tatiana Darie

"Carvana shares up about 1% was up higher earlier, but that's after Jefferies upgraded the platform for buying used cars to buy from hold. They say the company continues to deliver growth and upside to consensus. And it's primed to benefit from the shift to digital in this massive 800 billion used car market opportunity. Also raised the price target there to $475 from 385. We are at 380 right now."

Jefferies has upgraded Carvana, raising the price target from $385 to $475. The upgrade is underpinned by the company's demonstrated growth and the significant expansion opportunity in the digital used car marketplace, suggesting a strong upside potential.

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