Carvana rises after Wedbush upgrades to 'outperform'

Shares of online used-car retailer Carvana CVNA.N up 3.3% at $320 premarket

Wedbush upgrades stock to “outperform” from “neutral”; raises PT to $400 from $380

Brokerage says recent pullback in shares is overdone; sees compelling risk/reward as CVNA trades near low end of historical multiple range

Expects Carvana to achieve leading market position by unit volume in fourth quarter of FY26, six months earlier than prior forecast

Brokerage expects co to achieve 3 mln in annual retail unit sales by 2033

CVNA stock up 52.38% YTD, as of last close