Stephens raised the firm’s price target on CarMax (KMX) to $43 from $39 and keeps an Equal Weight rating on the shares ahead of the company reporting Q4 earnings BMO on April 14. The firm believes “tactical buyside players” are expecting flat to down 2% same-store units in Q4, but it says that based on high frequency data providers, the unit sales cadence appears to have accelerated during the quarter.
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