Carvana shares are trading higher after RBC Capital upgraded the stock from Underperform to Sector Perform and raised its price target from $45 to $90.
Portfolio Pulse from Benzinga Newsdesk
Carvana's stock (CVNA) experienced a rise after RBC Capital upgraded its rating from Underperform to Sector Perform and increased its price target from $45 to $90.
March 08, 2024 | 1:34 pm
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POSITIVE IMPACT
Carvana's stock received a positive upgrade from RBC Capital, moving from Underperform to Sector Perform, with a significant increase in price target from $45 to $90.
The upgrade by RBC Capital from Underperform to Sector Perform, coupled with a substantial increase in the price target, signals a positive reassessment of Carvana's market position and future prospects. This is likely to instill confidence among investors, potentially leading to a short-term increase in stock price as market perception aligns with the more optimistic outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100