Carvana up after Piper Sandler raises PT

Online used-car retailer Carvana's CVNA.N shares rise 9.2% to $213.8

Piper Sandler raises PT on CVNA to $230 from $225

Says as long as automotive credit keeps flowing, CVNA will continue growing unit sales, even if higher prices prompt lower market-wide transactions

Used vehicle sales rose by double digits year-over-year in March, presumably due to trade-ins and a flood of pre-tariff car buying activity; think the frenzy has probably continued in April - brokerage

Thirteen of 23 brokerages rate the stock "buy" or higher, nine "hold" and one "sell"; their median PT is $260, according to data compiled by LSEG

Up to Monday's close, stock down 3.7% YTD