BUZZ-Carvana shares rise after Citigroup upgrades to 'buy'

** Used car retailer Carvana's CVNA.N shares rise 2% in morning trade after brokerage Citigroup raises stock rating to "buy" from "neutral"

** Citigroup analyst Ronald Josey says "CVNA is ramping inventory to meet increasing demand"

** Brokerage raises PT to $277 from $195, a 39.65% upside to stock's last close

** Ten of 24 brokerages rate CVNA "buy" or higher, 13 "hold" and one "sell"; their median PT is $250 - LSEG data

** Stock rose 284% in 2024

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))