Several analysts have started weighing in on CVNA stock
Analysts are weighing in on used car website Carvana Co (NYSE:CVNA), restaurant chain Wingstop Inc (NASDAQ:WING), and energy stock Atwood Oceanics, Inc. (NYSE:ATW). Here's a quick roundup of today's bullish brokerage notes on shares of CVNA, BWLD, and ATW.
Analysts Issue "Buy" Ratings for CVNA Stock
On Monday, Carvana shares received their first "buy" rating since going public on April 28, courtesy of Craig-Hallum. More analysts have followed suit today, with Baird, BofA-Merrill Lynch, BMO, Citigroup, and Wells Fargo also initiating coverage with the equivalent of a "buy" rating. While CVNA stock is trading up 4.4% at $11.56 this morning, it remains below its record peak of $13.94, hit on its first day of trading.
Goldman Sachs Adds WING Stock to "Conviction Buy" List
WING stock has recently found a foothold atop its 30-day moving average, home to its year-to-date breakeven mark. Following a successful test of this trendline yesterday, Wingstop shares are trading up 3% at $30.55, after Goldman Sachs added the equity to its "Conviction Buy" list, calling it "one of the few unchallenged unit growth stories." Almost all of the brokerages covering WING stock tend to agree, with nine out of 11 issuing a "buy" or better rating, and not a single "sell" in the books.
ATW Stock Upgraded On M&A Potential
Goldman Sachs raised its rating on ATW stock to "neutral" from "sell" and its price target to $8.25 from $7.50, saying the company has better visibility and is an "attractive M&A target." While Atwood Oceanics shares have added 3% to trade at $8.99, they still remain more than 30% lower year-to-date. Short sellers have helped drive this bearish price action, too. Short interest accounts for nearly 29% of ATW's available float, or 8.3 times the stock's average pace of trading.