From Yahoo Finance: 2025-04-22 15:46:00

Carvana stock surged 9.3% on Tuesday, outperforming the S&P 500 and Nasdaq Composite. This rise followed positive analyst coverage and comments from U.S. Treasury Secretary suggesting a potential trade war de-escalation with China.

Investors are buying back into stocks after a recent sell-off, encouraged by Treasury Secretary Bessent’s remarks on potential tariff de-escalation. Carvana’s stock is up 4% for the year, with Piper Sandler raising its price target to $230 per share, implying a 9% upside.

Piper Sandler’s lead analyst, Alexander Potter, noted a double-digit increase in used-car sales in March, anticipating continued demand tailwinds. Carvana, trading at 60 times this year’s earnings, could benefit from pricing increases amid changing macroeconomic factors.

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Read more at Yahoo Finance: Why Carvana Stock Is Soaring Today