CarMax shares are trading lower after Wedbush maintained an Outperform rating on the stock but lowered its price target from $90 to $80.
Portfolio Pulse from Benzinga Newsdesk
CarMax (KMX) shares are trading lower following a price target reduction from $90 to $80 by Wedbush, despite maintaining an Outperform rating.
November 16, 2023 | 4:26 pm
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Wedbush has lowered the price target for CarMax from $90 to $80, although it has maintained an Outperform rating on the stock.
The reduction in price target by Wedbush is likely to have a negative short term impact on CarMax's stock price as it may signal a tempered expectation of the company's future performance, despite the retention of an Outperform rating. Investors often react to such adjustments by analysts, which can lead to a decrease in stock price.
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