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Fly News Breaks for July 11, 2017
KMX
Jul 11, 2017 | 07:15 EDT
Wedbush analyst Seth Basham says the Manheim Index of wholesale used car prices was "solid again in June," rising 2.5% year-over-year amid "less seasonal pressure." The analyst says that the index probably won't rise further in the near-term, but he thinks that the "used car price environment is favorable" for CarMax. The analyst keeps a $73 price target and an Outperform rating on the stock.
News For KMX From the Last 2 Days
KMX
Apr 15, 2024 | 06:17 EDT
JPMorgan lowered the firm's price target on CarMax to $55 from $60 and keeps an Underweight rating on the shares following the fiscal Q4 report. The results showed no organic growth as well as reduced margins, the analyst tells investors in a research note. The firm believes the recent stretch of CarMax results warrants a broader debate on structural aspects like market share and unit economics in the near- to medium-term to provide comfort around the company's long-term earnings potential.
