Carvana Stock Climbs As Wedbush Sees Road To $400 Per Share

Carvana Co (NYSE:CVNA) shares are moving higher on Monday after Wedbush upgraded the stock and lifted its price target.

CVNA stock is showing exceptional strength. See the market dynamics here.

What Happened: Wedbush analyst Scott Devitt boosted Carvana’s rating to Outperform from Neutral and bumped the price target from $380 to $400.

The upgrade comes after a recent 13% decline in shares, which the analyst firm feels is excessive considering management’s excellent performance history. The current price of shares is close to the lower end of the company’s historical multiple range over the previous two years. Webush said the stock is trading around 22 times its 2027 earnings per share estimates.

Per current estimates, Carvana will surpass CarMax Inc‘s

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Carvana Stock Climbs As Wedbush Sees Road To $400 Per Share

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