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What’s Going On With Carvana Stock?

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Carvana Co (NYSE:CVNA) shares are volatile Tuesday on the heels of an analyst upgrade from Jefferies.

What Happened: Jefferies analyst John Colantuoni upgraded Carvana from an Underperform rating to a Hold rating and raised the price target from $30 to $85.

Several analysts have raised price targets on Carvana stock since the company reported fourth-quarter financial results last month and said it was “stronger than ever.”

Carvana sold 76,090 vehicles in the fourth quarter and noted that it expected retail units sold in the first quarter to be “slightly up” on a year-over-year basis. 

Carvana shares are up nearly 50% year-to-date and are …

Full story available on Benzinga.com

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