JPMorgan lowered the firm’s price target on CarMax (KMX) to $28 from $30 and keeps an Underweight rating on the shares following the Q3 report. The company’s results and commentary suggest pressure on margins in near- and medium-term with visibility low on a volume recovery, the analyst tells investors in a research note. JPMorgan reduced estimates following the earnings report.
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Read More on KMX:
- CarMax price target lowered to $36 from $39 at Stephens
- CarMax price target lowered to $36 from $46 at Mizuho
- CarMax price target raised to $31 from $27 at BofA
- CarMax: Near‑Term Margin Pressure and Structural Share Losses Drive Underperform (Sell) Rating Despite Recovery Efforts
- CarMax price target lowered to $24 from $28 at Barclays