10 Best Consumer Cyclical Stocks to Buy Now

Page 10 of 10

1. Carvana Co. (NYSE:CVNA)

Number of Hedge Fund Holders: 90

Carvana Co. (NYSE:CVNA) is one of the best consumer cyclical stocks to buy. On June 10, analyst Michael McGovern of BofA Securities reiterated his Buy rating on Carvana Co. (NYSE:CVNA) while raising the price target for the company’s shares from $325 to $375. Despite potential challenges in the second half of the year due to tightening new car supply shipments noticed in May, McGovern listed a number of variables that could support the company’s continued growth.

McGovern also noted that Carvana Co. (NYSE:CVNA) could benefit from the trend of consumers switching from new to used cars, which the company might take advantage of to increase its market share. He added that even though the S&P Committee made no adjustments this quarter, Carvana Co. (NYSE:CVNA) is now qualified to be included in the S&P 500 index.

Carvana Co. (NYSE:CVNA) is an online retailer of used cars based in Tempe, Arizona. Renowned for its multi-story automobile vending machines, the firm is the fastest-growing online used car dealer in the United States.

While we acknowledge the potential of CVNA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CVNA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 10 of 10