UBS is betting on Carvana from here on out. The bank initiated coverage of the used-car e-commerce platform with a buy rating and a 12-month price target of $450, which implies upside of 20% from Friday's close. Analyst Joseph Spak applauded Carvana's potential as a "true disruptor and share gainer in highly fragmented market." He believes that growth at the company is driven by a migration to online sales and its e-commerce platform, which offers customers a "better experience and often a better price." CVNA YTD mountain CVNA YTD chart "CVNA has a differentiated, best-in-class online platform and customer experience that positions them to gain share in the large but fragmented used vehicle market," he wrote. While Carvana is only around 1.5% of the used vehicle sales market, he believes t

See Full Page