Shares of online used car dealer Carvana (NYSE: CVNA) jumped 7.8% in the morning session after RBC analysts Brad Erickson and Khadijah Gibson upgraded the stock’s rating from Sector Perform to Outperform and raised the price target from $270 to $280. The new price target implies a potential 40% upside. The analysts think CVNA’s share price decline after a recent short report, presents “a buying opportunity.”
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