Morgan Stanley stepped back into the Carvana Co. (NYSE:CVNA) ratings game with a new Equal-weight rating on the auto retailer. Analyst Adam Jonas and team took a constructive view on the potential for Carvana (CVNA) to survive. Morgan Stanley assigned a price target of $12 on the highly-shorted stock. Shares of Carvana (CVNA) fell 5.66% in early trading on Tuesday to $10.92 vs. the 52-week trading range of $3.55 to $58.05. Short interest on CVNA stands at more than 60% of total float adding to the volatile daily swings.

Source: CNN May 16, 2023 20:38 UTC