Pulse of The Market: Tuesday’s 10 Top Performers

6. Carvana Co. (NYSE:CVNA)

Carvana extended its winning streak for a fifth day on Tuesday, adding another 3.76 percent to close at $221.66 after Morgan Stanley posted a bullish outlook for the company, saying it could become the “Amazon of auto retail.”

In its market note, Morgan Stanley upgraded CVNA’s stock rating to “overweight” from “equal weight” previously, and raised its price target to $280 from $260. The new price represented a 26.3-percent upside from its latest closing price.

According to the analyst, the company’s recent slide from its peak of $285.33 could present “a unique opportunity for investors to gain exposure to a leader in auto retail and fleet fulfillment.”

Additionally, Morgan Stanley said its analysts’ recent tour of a Carvana facility in Florida reinforced the firm’s competitive advantages with vertical integration and scale.