Carvana, the online used-car retailer that last week was the target of a short-selling research report, got its first broker upgrade since then which says the controversy has sparked a buying opportunity.

The report centers on Carvana's practice of loan sales as well as the business relationship between CEO Ernie Garcia III and his father, Ernest Garcia II.

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ET with statement from Carvana company spokesperson. Shares of Carvana (NYSE:CVNA) were under brief selling pressure early on Thursday after Hindenburg Research published an unfavorable report. Hindenburg confirmed it has taken a short position in Carvana (NYSE:CVNA) based on its findings.