Carvana Stock Rises After RBC Capital Raises Price Target

Positive Analyst Sentiment Drives Stock Up

Market Response to Upbeat Earnings Report

**Toronto, ON** - Carvana Co. (NYSE: CVNA) stock surged in pre-market trading on Thursday after the company reported upbeat financial results and a rosy outlook for the future. The company's strong performance prompted several analysts to raise their price targets, including RBC Capital's Brad Erickson.

Erickson raised his price target on Carvana to $170 from $130, citing the company's continued market share gains and its ability to maintain profitability amid inflationary pressures. He maintained a "Sector Perform" rating, indicating his belief that the stock is fairly valued at current levels.

The move by RBC Capital follows similar actions by other analysts. Wedbush Securities recently raised its price target to $150 from $120, while maintaining a "Neutral" rating. The average analyst rating for Carvana is now "Hold," with a range of price targets from $120 to $175.