BUZZ - Carvana shares rise as Q3 revenue surpasses expectations

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October 29 - ** Online used car retailer Carvana (CVNA.N) shares rose 15%, closing at $67.9

** The company was the top gainer in the S&P 500 Index .SPX

** The company's third quarter (link) revenue reached $8.04 billion, surpassing analysts' expectations of $7.70 billion

** The company stated that a doubling of its customer base and improved unit economics drove the growth in performance

** Two brokers, including Deutsche Bank and UBS , raised the target price for CVNA

** BTIG said this performance “supports the bull case: CVNA can deliver value to consumers to expand market share while maintaining industry-leading unit economics”

** Of 26 analysts, 16 rated it as 'Buy' or higher, 9 as 'Hold', and 1 as 'Sell'; the median target price is $83 — data compiled by LSEG

** Including intraday fluctuations, the stock has fallen by 19.6% so far this year

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