Carvana Co (NYSE:CVNA) meets Minervini’s trend criteria with strong technicals and high-growth fundamentals, making it a stock to watch for momentum investors.
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Shares of online used car dealer Carvana (NYSE: CVNA)
jumped 3.2% in the morning session after investment firm Gordon Haskett initiated coverage on the stock. Analyst Robert Mollins began coverage with a "Hold" rating and set a price target of $329.00 for the online used-car retailer. A "Hold" rating typically suggests that an analyst believes the stock will perform in line with the broader market and recommends that investors maintain their current position. While not a "Buy" rating, the initiation of coverage by a new firm can bring increased attention and trading volume to a stock, which can sometimes lead to a price increase as new investors evaluate the company.
Carvana Co (NYSE:CVNA) combines high earnings momentum with a strong technical setup, making it a candidate for growth investors. The stock shows accelerating EPS, expanding margins, and bullish chart patterns.
Large-cap stocks usually command their industries because they have the scale to drive market trends.
The flip side though is that their sheer size can limit growth as expanding further becomes an increasingly challenging task.
CARVANA CO (NYSE:CVNA) shows strong growth fundamentals and a bullish technical setup, making it an interesting candidate for growth investors. The stock has solid revenue growth, improving margins, and a positive chart pattern.
Used car prices are revving back into high gear - and dealership stocks are catching a tailwind. Carvana and AutoNation are best positioned to benefit.
