BUZZ-Citigroup upgrades Carvana to 'buy'; shares reverse course in morning trade
Updates
** Shares of used car retailer Carvana CVNA.N reverse course, down more than 2% to $195 after initially rising 2% in early trade
** Brokerage Citigroup raises stock rating to "buy" from "neutral", marking a second stock upgrade this week
** "CVNA is ramping inventory to meet increasing demand" - Citigroup analyst Ronald Josey
** Brokerage raises PT to $277 from $195, a 39.65% upside to stock's last close
** Hindenburg Research revealed short position on CVNA last week, accusing it of "insider trading and accounting manipulation"
** Ten of 24 brokerages rate CVNA "buy" or higher, 13 "hold" and one "sell"; their median PT is $250, according to data compiled by LSEG
** Stock rose 284% in 2024
(Reporting by Anshuman Tripathy)
((Anshuman.Tripathy@thomsonreuters.com))
Related Articles
[Crypto IPO] Figure Technology Follows Circle and Bullish with Nasdaq Listing Plans
On August 18, U.S.-based blockchain lending firm Figure Technology Solutions Inc. publicly announced it has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), signaling its intent to go public on the Nasdaq Global Market under the ticker symbol FIGR.
Japan July CPI Preview: With Inflation Cooling, Will the Yen Still Rise?
TradingKey - Japan is set to release July inflation data on 22 August 2025. Market consensus predicts that the national Consumer Price Index (CPI) excluding fresh food will see its year-on-year increase slow from 3.3% in June to 3%. While forecasts for headline CPI and CPI excluding food and...
Powell's Jackson Hole Speech: For U.S. Stocks, Hawk or Dove Signal Could Be a Lose-Lose?
TradingKey - As U.S. inflation and labor market data show signs of rebalancing, Treasury traders and Wall Street banks have largely priced in a rate cut at the September FOMC meeting — the first of 2025. Yet both a more dovish-than-expected tone and a potential surprise hawkish signal from Fed Chair
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...
Bridgewater Associates Q2 2025 13F Analysis: Founder Ray Dalio’s Final Act
TradingKey - Bridgewater Associates, the world’s largest hedge fund and renowned for its macroeconomic analysis, continues to command market respect with its “risk parity” strategy and precise economic cycle timing.
