0803 ET - Carvana is on track to reach the top spot in the used car market and shouldn't be dragged down by the underperformance of its peers, say Wedbush analysts in a report, upgrading the stock to outperform from neutral and raising the price target to $400 from $380. Shares have fallen recently due to the weak near-term performance from CarMax and rising credit market concerns, the analysts say. But Carvana has maintained a relatively healthy credit performance versus expectations even as it expands into lower-tier financing, according to Wedbush. The company has also made operational and technology-driven improvements over the last several quarters enabling it to record growth ahead of the market. The analysts say that Carvana could reach a market-leading position in unit volume by 4Q26. (nicholas.miller@wsj.com)

(END) Dow Jones Newswires

November 24, 2025 08:03 ET (13:03 GMT)

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