JPMorgan raised the firm’s price target on CarMax (KMX) to $35 from $28 and keeps an Underweight rating on the shares. The firm sees support for the shares from peak demand season and One Big Beautiful Bill stimulus helping industry sales. However, visible signs of market share recovery beyond Q1 are needed for further re-rating of CarMax, the analyst tells investors in a research note. JPMorgan believes the company’s competitive backdrop continues to intensify.
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