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Fly News Breaks for March 28, 2016
KMX
Mar 28, 2016 | 08:47 EDT
As noted earlier, Sterne Agee downgraded CarMax to Neutral from Buy. The firm says the company is facing more competitive pressures than it had previously expected, and it thinks that the company's comps are unlikely to recover in the short-term. The firm reduced its estimates for the company "only modestly," but it says that the market is unlikely to give the company a higher multiple in the current environment.
News For KMX From the Last 2 Days
KMX
Mar 18, 2024 | 16:19 EDT
Mizuho analyst David Bellinger initiated coverage of CarMax with a Neutral rating and $80 price target. The analyst launched coverage of 15 companies in the consumer hardlines and consumer internet verticals with an optimistic view for the balance of 2024. The firm expects a "more subdued, yet stable" spending backdrop to become more apparent in the coming months and takes a positive view toward eight names. Its top picks include Lowe's (LOW) within core consumer hardlines and large caps, Wayfair (W) within consumer internet coverage, and Mister Car Wash (MCW) within small caps. Expectations for rate cuts into 2025 should serve as an added positive and supports a positive stance on home improvement and other home-related activity, the analyst tells investors in a research note.