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Fly News Breaks for January 8, 2018
KMX
Jan 8, 2018 | 07:09 EDT
Berenberg upgraded CarMax to Buy with an $83 price target due to increased confidence outperformance is sustainable and it has the tools to compete effectively against new entrants. The firm's analyst believes CarMax can deliver double-digit earnings growth and thinks shares can benefit over time from investors looking to reduce exposure to moderating new vehicle sales. Berenberg acknowledges CarMax faces challenging near-term comps but believes current valuation creates attractive risk/reward and notes the company's long-term track record of strong execution and ongoing growth potential.
News For KMX From the Last 2 Days
KMX
Mar 28, 2024 | 09:41 EDT
Seaport Research analyst Glenn Chin raised the firm's price target on CarMax to $100 from $88 and keeps a Buy rating on the shares. Recent channel checks and data suggest there has been significant improvement in comparable store unit performance in recent weeks, the analyst tells investors. Despite the stock's recent outperformance, the firm believes there is "more room to run," and, as fundamentals continue to improve, shares will continue to work.