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Carvana Is A ‘Secular Growth Story With A Cyclical Recovery Kicker,’ Says Bullish Analyst

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Shares of Carvana Co (NYSE:CVNA) spiked in premarket trading on Wednesday, after the company launched a new shopping experience.

The company should be able to generate sales growth and gain share by leveraging its digital-first customer experience and underutilized physical footprint, according to Needham.

The Carvana Analyst: Chris Pierce upgraded the rating for Carvana from Hold to Buy, while establishing a price target of $160.

The Carvana Thesis: The company is a “secular growth story with a cyclical recovery kicker,” Pierce said in the upgrade …

Full story available on Benzinga.com

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