BUZZ-Carvana gains after Piper Sandler upgrades to 'overweight'

Reuters
03-20
BUZZ-Carvana gains after Piper Sandler upgrades to 'overweight'

** Shares of online used-car retailer Carvana CVNA.N rise 2.6% to $180.67

** Brokerage Piper Sandler upgrades stock to "overweight" from "neutral"; PT unchanged at $225

** Says when it comes to tariff risk, CVNA has the least exposure in its coverage

** Brokerage notes economic uncertainty affecting the new car market could lead to a decline in used car sales, as the new car market feeds the supply of used cars

** "We think CVNA can grow aggressively, even if the used car market weakens" - brokerage

** Up to last close, CVNA stock more than doubled in past 12 months

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com;))

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