Oppenheimer Upgrades Carvana to Outperform, Sets $450 Target on Profit Upside

Carvana Co. (NYSE:CVNA) is one of the best multibagger stocks according to hedge funds. On July 25, 2025, Oppenheimer analyst Brian Nagel upgraded Carvana from “Perform” to “Outperform” and raised his price target to $450.

The analyst described Carvana as a “unique, digitally‑driven disruptor” in the U.S. used‑car market, highlighting lowered operational costs and rising demand, despite recent record highs in the stock price.

Nagel asserted that investors are still underestimating the company’s growth and profit potential, projecting over 30% upside from current levels.

Carvana Co. (NYSE:CVNA) is an Arizona-based online used‑car retailer that sells vehicles via its digital platform and operates auto-financing and logistics systems to support rapid delivery to consumers.

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