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Fly News Breaks for May 29, 2018
KMX
May 29, 2018 | 10:17 EDT
Wedbush analyst Seth Basham says that proprietary sales tracker indicates that CarMax Q1 used unit comps are improving. May comps are on pace to modestly accelerate on a two-year stacked basis, signaling CarMax underlying improvement, he notes, adding that moderating used car prices following the peak spring selling season may be contributing to better sales growth, a trend that likely becomes stronger by Q3. The analyst reiterates an Outperform rating and $75 price target on the shares.
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.