Carvana rises after Wedbush upgrades to 'outperform'

Carvana Co

24/11/2025 13:33

** Shares of online used-car retailer Carvana CVNA.N up 3.3% at $320 premarket

** Wedbush upgrades stock to “outperform” from “neutral”; raises PT to $400 from $380

** Brokerage says recent pullback in shares is overdone; sees compelling risk/reward as CVNA trades near low end of historical multiple range

** Expects Carvana to achieve leading market position by unit volume in fourth quarter of FY26, six months earlier than prior forecast

** Brokerage expects co to achieve 3 mln in annual retail unit sales by 2033

** CVNA stock up 52.38% YTD, as of last close

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))