What's In Store For CarMax In Q2 - Analyst Sees Easing Growth Comparisons, Cost Controls & More
Portfolio Pulse from Nabaparna Bhattacharya
Oppenheimer analyst Brian Nagel reiterated an Outperform rating on CarMax Inc (NYSE:KMX) with a price target of $105. CarMax has struggled with a bloated cost infrastructure and elevated used car prices. However, the analyst is optimistic that CarMax will emerge as a robust operator in the used car sector. The EPS forecast for Q2 is $0.73, consistent with Street figures. For FY23, the analyst predicts an EPS of $2.80, down from $3.03. CarMax shares closed higher by 0.62% to $78.25 on Tuesday.
September 26, 2023 | 8:20 pm
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CarMax has been struggling with cost infrastructure and high used car prices. However, an analyst from Oppenheimer is optimistic about the company's future, reiterating an Outperform rating with a price target of $105.
The analyst's optimistic outlook and the Outperform rating suggest a positive short-term impact on CarMax's stock. The company's struggles are acknowledged, but the analyst believes that CarMax will emerge as a robust operator in the used car sector, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100