13 Best Automotive Stocks to Buy According to Hedge Funds

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2. Carvana Co. (NYSE:CVNA)

Number of Hedge Fund Holders: 91

Carvana Co. (NYSE:CVNA) is one of the best automotive stocks to buy according to hedge funds. On August 25, Citizens JMP analyst Andrew Boone reiterated a buy rating on Carvana Co. (NYSE:CVNA) with a $460 price target.

Similarly, Bank of America Securities analyst Mike McGovern maintained a bullish stance on the stock on August 20, setting a price target of $425. The same day, Citi analyst Ronald Josey reiterated a Buy rating on Carvana Co. (NYSE:CVNA) with a $490 price target.

However, Evercore ISI analyst Michael Montani reiterated a Hold rating on the stock on August 12, while raising the price target from $365 to $370.

The stock’s median price target of $371.92 implies an upside of 14.27% from current levels.

Headquartered in Tempe, AZ, Carvana Co. (NYSE:CVNA) is an e-commerce platform and a holding company involved in the buying and selling of used cars.

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