Where is Carvana Co. (CVNA) Headed According to Analysts?

Carvana Co. (NYSE:CVNA) is one of the best automotive stocks to buy according to hedge funds. On August 25, Citizens JMP analyst Andrew Boone reiterated a buy rating on Carvana Co. (NYSE:CVNA) with a $460 price target.

Similarly, Bank of America Securities analyst Mike McGovern maintained a bullish stance on the stock on August 20, setting a price target of $425. The same day, Citi analyst Ronald Josey reiterated a Buy rating on Carvana Co. (NYSE:CVNA) with a $490 price target.

However, Evercore ISI analyst Michael Montani reiterated a Hold rating on the stock on August 12, while raising the price target from $365 to $370.

The stock’s median price target of $371.92 implies an upside of 14.27% from current levels.

Headquartered in Tempe, AZ, Carvana Co. (NYSE:CVNA) is an e-commerce platform and a holding company involved in the buying and selling of used cars.

While we acknowledge the potential of CVNA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.