CarMax Analyst Turns Bullish Ahead Of Earnings
Portfolio Pulse from Priya Nigam
CarMax, Inc (NYSE:KMX) shares rose ahead of its quarterly earnings report due later this week. Analyst Seth Basham from Wedbush upgraded the rating for CarMax from Neutral to Outperform and raised the price target from $85 to $90. Basham expects the company's underperformance versus the retail used car industry to narrow and predicts positive comps in the fiscal third quarter.
September 25, 2023 | 4:00 pm
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CarMax's stock rose as an analyst from Wedbush upgraded the company's rating and raised the price target. The analyst expects the company's underperformance to narrow and predicts positive comps in the fiscal third quarter.
The upgrade in rating and increase in price target by a Wedbush analyst indicates a positive outlook for CarMax. This, coupled with the expectation of positive comps in the fiscal third quarter, has led to a rise in the company's stock. The news is highly relevant and important for investors, leading to a high confidence score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100