Core Viewpoint - Carvana (CVNA) has received a bullish upgrade from Wedbush Securities, moving from neutral to outperform, with a new price target raised from 380 to 400, indicating a potential 25% upside from its opening price of 318.54 on Monday [1]. Group 1: Company Performance - Carvana's stock has experienced volatility over the past month following its third-quarter earnings report [1]. - The company's Relative Strength Rating has improved, moving into the 80-plus level, indicating strong stock performance relative to the market [2]. Group 2: Market Context - The upgrade from Wedbush reflects a positive sentiment in the market, contributing to a rise in futures following the announcement [1]. - Carvana is highlighted as a leading prospect in the stock market, being featured in IBD's best stock lists alongside other notable companies [4].

The car market hasn't exactly looked healthy in recent months, but that shouldn't spook Carvana shareholders, according to analysts at Wedbush Securities. ...

Market Overview - U.S. equity markets are experiencing a strong rally, driven by optimism for a Federal Reserve interest rate cut in December [1][2] - Major indexes are showing significant gains, with the Nasdaq Composite up over 2%, S&P 500 up 1.6%, and Dow Jones up 0.6% [2] - The CME FedWatch tool indicates a 77% likelihood of a quarter-percentage-point rate reduction at the Fed's December meeting [2] Economic Data and Events - A holiday-shortened trading week is underway due to Thanksgiving, with markets closed on November 27 and an early close on November 28 [4] - Key economic data releases this week include the S&P/Case-Shiller Home Price Index, Richmond Fed Manufacturing Index, Consumer Confidence data, and U.S. GDP [5] Corporate Earnings - Agilent Technologies is expected to release its fiscal Q4 earnings, while Alibaba, Dell, Analog Devices, and Autodesk are among companies reporting on November 25 [6] - Ross Stores, Intuit, and UGI Corp. reported strong earnings, with Ross Stores jumping 8.4% after surpassing analyst estimates [11] Individual Stock Movements - Tesla shares surged 7% following CEO Elon Musk's announcement of plans to build more AI chips [7] - Alphabet's shares rose over 5% to an all-time high after unveiling its Gemini 3 AI model [7] - Nvidia shares increased nearly 2% despite previous concerns about AI valuations [7] - Carvana shares jumped nearly 7% after an upgrade from analysts [7] - Amazon announced a $50 billion investment to expand its AI and supercomputing infrastructure for U.S. government agencies [11]

Core Insights - Carvana shares have surged approximately 60% since the beginning of 2025, reflecting strong market momentum and investor confidence [1][4] - Wedbush upgraded Carvana's stock rating from "neutral" to "outperform" and increased the price target from $380 to $400, indicating a bullish outlook on the company's performance [1][7] Company Performance - Analysts at Wedbush believe Carvana's growth momentum is accelerating rapidly, potentially allowing it to surpass rival CarMax in unit vehicle volume sooner than anticipated [2][3] - Carvana's revenue for the current quarter is projected to be $5.2 billion, which is an increase of about 3% from previous estimates [3] Competitive Landscape - The poor performance of CarMax, Carvana's largest competitor, has been cited as a contributing factor to Carvana's recent stock fluctuations, suggesting that the market may have overreacted to Carvana's share price decline [3] - Analysts predict that Carvana will achieve a leading market position by unit volume in the fourth quarter of 2026, with expectations that it will surpass CarMax's quarterly used unit volumes six months earlier than initially forecasted [2][3]

Market Performance - Major U.S. equities indexes experienced gains, with the Dow rising 0.4%, the S&P 500 increasing by 1.3%, and the Nasdaq surging over 2% [1] - Tesla's stock rose by 7%, making it one of the top performers in the S&P 500, driven by CEO Elon Musk's announcement regarding AI chip production [2] Company-Specific Developments - Alphabet, Google's parent company, saw its shares jump over 5% to an all-time high, fueled by excitement over the launch of its Gemini 3 AI model [2] - Centene, Elevance Health, and Molina Healthcare shares rose following reports of President Trump's support for a healthcare proposal extending Affordable Care Act subsidies [3] - Carvana's shares surged nearly 7% after an upgrade to "outperform" from "neutral" by Wedbush analysts, who referred to it as the "new used car king" [3] - Novo Nordisk's shares declined after the company reported that its latest drug trial was ineffective in slowing Alzheimer's progression [3] Industry Trends - Performance Food Group shares dropped as it and rival US Foods agreed to terminate merger talks, while US Foods' shares increased [4] - Gold prices increased slightly, while crude oil futures fell, and the yield on the 10-year Treasury note decreased to 4.05% [4]

Core Viewpoint - Carvana's stock has experienced significant volatility, trading at over $350 in December 2022 and peaking at over $400 in July 2023, but has since pulled back 25% from that high while still being up over 50% year-to-date in 2025 [1] Company Performance - Carvana has been upgraded by Wed Bush to an "outperform" rating with a price target of $400, reflecting improved unit economics and profitability, generating approximately $629 million on $18 billion in sales last year [3][4] - The company has seen a significant increase in sales and profitability, especially as competitors like Vroom and Shift have gone bankrupt, positioning Carvana favorably in the used car retail market [5] Stock Analysis - The stock has pulled back about 23% since early October, but analysts see a compelling risk-reward scenario with limited downside risk, as it appears to be bouncing off its 200-day moving average [6][7] - Current earnings estimates for Carvana are around $547 million for this year, with projections of $7.35 per share for 2026, placing the stock at approximately 42 times next year's earnings [7] Market Context - The overall market for used car retailers is positive, with Carvana's stock rising nearly 7% following the upgrade, alongside gains in competitors like Autoation and CarMax [2] - The market sentiment is influenced by expectations of a potential rate cut by the Federal Reserve, which could further benefit stocks like Carvana [11][14]

Core Points - Andina Copper Corporation has commenced trading on the TSX Venture Exchange under the symbol "ANDC" after being delisted from the Canadian Securities Exchange [1] - The listing is seen as a significant milestone, reflecting the recognition of the company's high-quality copper and copper-gold discoveries [1] - Ongoing exploration activities are taking place at Cobrasco in Colombia and Piuquenes in San Juan, Argentina, with plans for project-wide geophysics and further drilling [1] - A follow-up work program is also underway to define drill targets at the Mantau copper-gold project in Antofagasta, Chile [1] Company Overview - Andina Copper Corporation is focused on copper exploration in South America and is listed on multiple exchanges including TSX Venture Exchange, Frankfurt, and OTC [2] - The company holds two significant discoveries in the Andean porphyry belt in Argentina and Colombia, as well as an undrilled copper-gold target in the Coastal Cordillera of Chile [3]

Core Viewpoint - Analysts at Wedbush Securities have upgraded Carvana stock to Outperform from Neutral, indicating a positive outlook for the company's performance in the market [1] Group 1 - The upgrade reflects analysts' confidence in Carvana's potential for growth and improved financial performance [1]

Alphabet (Google) - Alphabet has reached an all-time high, with shares rallying more than 4%, now valued at over $3.6 trillion, surpassing Microsoft to become the third most valuable company, trailing only Nvidia and Apple [2][3] - The company has secured a multi-million dollar contract with NATO for secure sovereign cloud capabilities, enhancing its cloud and AI data services [4] - Analysts are noting a positive momentum for Alphabet due to its improved Gemini AI model, positioning it as a front-runner in the AI arms race [5] Tesla - Tesla shares are also up more than 4%, with Elon Musk highlighting the company's advanced AI chip program, claiming they have designed and deployed several million AI chips in their vehicles and data centers [7][10] - The company is working on a rapid development cycle for AI chips, aiming for a new chip every 12 months, which is a significant acceleration compared to traditional automotive cycles [9] - Musk asserts that Tesla expects to produce AI chips at higher volumes than all other AI chips combined globally [10] Carvana - Carvana's shares are rising after Wedbush upgraded the company to outperform from neutral, raising the price target from $380 to $400 [11][12] - The recent pullback in Carvana's stock is viewed as overdone and not indicative of fundamental issues, but rather a reaction to CarMax's underwhelming results [12][13] - The analyst believes there is a mispricing opportunity in Carvana's stock, suggesting potential for recovery [12][14]

Core Insights - The article compiles significant research calls from Wall Street, highlighting upgrades and downgrades of various companies that investors should be aware of [1] Upgrades - Wells Fargo upgraded Merck (MRK) to Overweight from Equal Weight with a price target of $125, increased from $90, citing business development and pipeline progress as key factors for revenue growth in the early 2030s [2] - Wolfe Research upgraded Morgan Stanley (MS) to Outperform from Peer Perform with a price target of $198, anticipating accelerated revenue growth from investment banking share gains and organic growth in wealth management [3] - HSBC upgraded Flutter Entertainment (FLUT) to Buy from Hold with a price target of $228, reduced from $265, viewing the recent share selloff as a buying opportunity [3] - BofA upgraded Booking Holdings (BKNG) to Buy from Neutral with an unchanged price target of $6,000, believing that concerns regarding disintermediation risks from Google and OpenAI are overstated [4] - Wedbush upgraded Carvana (CVNA) to Outperform from Neutral with a price target of $400, increased from $380, suggesting that the recent share pullback is overdone [5] Downgrades - UBS downgraded JFrog (FROG) to Neutral from Buy with a price target of $65, up from $48, indicating that while AI-related benefits are significant, the larger revenue impact is likely 12-18 months away [6] - Jefferies downgraded Exact Sciences (EXAS) to Hold from Buy with a price target of $105, up from $90, due to the pending acquisition by Abbott, which is seen as a win for Exact Sciences [6] - Evercore ISI downgraded QuantumScape (QS) to In Line from Outperform with a price target of $12, up from $8, citing valuation concerns as shares have risen 200% year-to-date [6] - UBS downgraded Jazz Pharmaceuticals (JAZZ) to Neutral from Buy with a price target of $188, up from $163, stating that the stock appears fairly valued after a strong Phase 3 GEA update and a 25% stock increase [6] - TD Cowen downgraded PureCycle Technologies (PCT) to Hold from Buy with a price target of $9, down from $16, due to delays in orders and growth plans, prompting a more cautious stance [6]