Oppenheimer upgraded Carvana (CVNA) to Outperform from Perform with a $450 price target The firm views Carvana as a “unique, digitally-driven disruptor” in the “expansive and inefficient” domestic used car marketplace. The company’s business model is now generating meaningful cash, scaling, and capitalizing on improving demand trends, the analyst tells investors in a research note. Oppenheimer says that while the shares have rebounded to all-time highs, investors still underappreciate Carvana’s near- and longer-term growth and profit potential.
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