BUZZ-Carvana climbs; Argus starts with 'buy'

Reuters12-15
BUZZ-<a href="https://laohu8.com/S/CVNA">Carvana</a> climbs; Argus starts with 'buy'

** Online used-car retailer Carvana's CVNA.N shares rise 1.3% to $461.06 premarket

** Argus Research starts with "buy" rating

** Brokerage sets PT at $500, implying an upside of 9.7% to stock's last close

** Brokerage says co "has competitive advantages over traditional dealerships in vehicle selection, price, quality and user experience"

** Average rating of 27 analysts is "buy," their median PT is $450 - data compiled by LSEG

** Up to last close, stock has more than doubled this year

(Reporting by Anhata Rooprai in Bengaluru)

((Anhata.Rooprai@thomsonreuters.com))

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