JP Morgan Upgrades Carvana to Neutral, Raises Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Rajat Gupta has upgraded Carvana (NYSE:CVNA) from Underweight to Neutral and increased the price target from $25 to $40.
December 04, 2023 | 10:51 am
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POSITIVE IMPACT
Carvana's stock rating has been upgraded by JP Morgan from Underweight to Neutral, with a raised price target from $25 to $40.
The upgrade from Underweight to Neutral by a major financial institution like JP Morgan suggests a more favorable outlook for Carvana, which can instill investor confidence and potentially lead to a short-term increase in the stock price. The raised price target from $25 to $40 also indicates a belief in the company's improved future performance or valuation, which can further drive positive sentiment in the market.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100