1726 ET - Carvana is expected to see high levels of growth, potentially surpassing CarMax, as the used car retailer is slated for inclusion in the S&P 500 index beginning Dec. 22, Bank of America analyst Michael McGovern writes in a note. He expects Carvana will sell more units per quarter than CarMax within 2026, and sees a 20% compound annual unit growth rate from 2027 to 2032. McGovern had pinpointed S&P inclusion in June as the top potential catalyst for the company, which had met profit requirements for inclusion for several quarters. He upgraded the price target to $455, from $385. The stock closed up 12% to $447.98. (elias.schisgall@wsj.com)
(END) Dow Jones Newswires
December 08, 2025 17:26 ET (22:26 GMT)
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