Carvana (NYSE: CVNA) received a Street-high price target of $600 from Deutsche Bank, up from $395, as the firm maintained a Buy rating on the stock.

The analyst said Carvana was well positioned to benefit from a potential cyclical recovery in 2026, supported by policy measures under President Trump's “Big Beautiful Bill” and the aging vehicle fleet across U.S. roads. Deutsche Bank highlighted Carvana as a major beneficiary of incremental consumer spending and digital adoption in the used vehicle market.

The firm noted that Carvana could further strengthen its market leadership through physical infrastructure advantages in a digitally underpenetrated industry, allowing unit growth to exceed expectations. The analysis also discussed broader e-commerce and AI-driven trends, noting that Amazon was positioned to shape agentic commerce, while AWS revenue growth could accelerate in 2026 as new capacity from Trainium and NVIDIA comes online.

Deutsche Bank added that margin expansion opportunities in 2026 were likely to emerge for select companies, citing Chewy as having a clear path to incremental margin gains after peak investment in 2025, and DoorDash as poised to see improved returns on recent investments.