Will CarMax Hold Its Ground In A Turbulent Used Car Market? Analyst Predicts Near-Term Volatility, Long-Term Gains
Portfolio Pulse from Nabaparna Bhattacharya
RBC Capital Markets analyst Steven Shemesh reiterated an Outperform rating on CarMax Inc (NYSE:KMX) with a price target of $70. He predicts near-term volatility and long-term gains for the company. CarMax is set to report Q1 results on June 23, 2023, and Shemesh expects a 4%-6% decrease in Q1 used vehicle ASP, slightly better than the consensus of a 7.1% decrease.
June 20, 2023 | 6:36 pm
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RBC Capital Markets analyst Steven Shemesh maintains an Outperform rating on CarMax Inc (NYSE:KMX) with a price target of $70. He predicts near-term volatility and long-term gains for the company.
The analyst's Outperform rating and price target of $70 indicate a positive long-term outlook for CarMax. However, he also predicts near-term volatility due to factors such as securitization pricing and credit market deterioration. This mixed outlook suggests a neutral short-term impact on KMX's stock price.
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