JP Morgan Maintains Underweight on CarMax, Lowers Price Target to $60
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Rajat Gupta has maintained an Underweight rating on CarMax (NYSE:KMX) and reduced the price target from $70 to $60.
November 29, 2023 | 12:18 pm
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JP Morgan analyst Rajat Gupta reaffirmed an Underweight rating on CarMax and decreased the price target to $60, indicating a bearish outlook.
The reduction in price target by a major financial institution like JP Morgan suggests a negative outlook on CarMax's stock performance in the short term. This could lead to a decrease in investor confidence and potentially result in a downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100