Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTPeace LongeSat, September 5, 2026 at 4:07 PM GMT+2 4 min readCarvana (CVNA) has spent 2026 frustrating the investors who cheered its record-breaking comeback.The stock trades near $74 and is down about 7% for the year, even after the company posted its strongest quarter ever this summer.That mismatch between a healthy business and a sluggish share price is what one major Wall Street firm is trying to explain right now.Morgan Stanley just walked through its full Carvana outlook again, and it did so with the company's next earnings report drawing closer.Why Morgan Stanley is sticking with a $90 Carvana price targetMorgan Stanley kept its Overweight rating on Carvana with a 12-month price target of $90, in a research note shared with TheStreet. That figure implies roughly 25% gains from current levels.The note was led by analyst Daniela Haigian, who covers auto retail for the firm and has carried the most bullish stance on Carvana among major banks through 2026.More Automotive Stocks: