Carvana shares are trading higher after Jefferies upgraded the stock from Underperform to Hold and raised its price target from $30 to $85.
Portfolio Pulse from Benzinga Newsdesk
Carvana's stock (CVNA) experienced a rise after Jefferies upgraded its rating from Underperform to Hold and increased its price target from $30 to $85.
March 12, 2024 | 1:01 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Carvana's stock received a positive adjustment from Jefferies, moving from an Underperform rating to Hold, with a significant increase in the price target from $30 to $85.
The upgrade by Jefferies from Underperform to Hold, coupled with a substantial increase in the price target, signals a positive reassessment of Carvana's stock value and future prospects. This is likely to instill confidence among investors, potentially leading to a short-term increase in stock price as market perception becomes more favorable.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100