Carvana Co. fell nearly 5% in morning trading.
Morgan Stanley downgrades it to underweight from equal weight. The company said the stock has gone too far too fast.
“We think much of the rally is deserved but the stock has run well above our increased target driving a less favorable risk-reward vs. our coverage.”
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments