Here’s why BofA took another look at Carvana, and liked what it saw
The Ratings Game
Carvana’s stock is ‘well positioned for sustained long-term growth’
Published:
Analysts at BofA Securities resumed coverage of Carvana Co.’s stock with a buy rating on Tuesday, saying that the online used-car retailer is “well positioned for sustained long-term growth” in a fragmented, if recovering, market.
The $800 billion used-car market is on the road to recovery as prices normalize, car supply returns, and interest rates begin to fall, the BofA analysts said in their note.