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Carvana Gets an Upgrade. The Used Car Retailer’s Stock Is Surging.

Carvana Gets an Upgrade. The Stock Is Surging. | Barron’s


stock surged 13% in premarket trading Tuesday after


upgraded the shares to neutral, ending a bearish call on the used car retailer.

The company (ticker: CVNA) is “not out of the woods yet” as used car fundamentals remain weak, JPMorgan’s Rajat Gupta said in a note Tuesday, but added that “risks seem better understood.” He has a price target of $20 on the stock, implying a 68% upside to Monday’s closing price.

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