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Fly News Breaks for April 5, 2018
KMX
Apr 5, 2018 | 07:55 EDT
As previously reported, Buckingham upgraded CarMax to Buy from Neutral and trimmed its price target to $75 from $77. Analyst Glenn Chin said shares of CarMax have been weak recently on expectations of weak same-store comps, which were realized yesterday along with the earnings miss. CarMax, maintained its best in class sector margins/GPUs, which the analyst views as important and views current headwinds as transitory. Chin said CarMax valuation remains inexpensive and expects cops and earnings growth to improve from here.
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