BUZZ-CarMax rises after Stephens raises rating ahead of Q4 results

Reuters
03-26
BUZZ-CarMax rises after Stephens raises rating ahead of Q4 results

** Used autos retailer CarMax's shares KMX.N rise 2.6% to $76.20

** Stephens upgrades rating to "overweight" from "equalweight"

** Raises price target to $90 from $86, representing 7.7% upside to stock's last close

** Brokerage has positive view for 2025 operations estimates, especially H1, based on consistency in co's credit metrics as well as used unit gross profit and sales

** "We believe KMX will likely marginally benefit from most tariff scenarios, at least in year 1," brokerage says

** 11 of 18 brokerages rate stock "buy" or higher, 5 "hold" and 2 "sell"; their median PT is $95 - LSEG-compiled data

** KMX will release Q4 results before the bell on April 10

** Including session's gains, stock had fallen 6.8% YTD

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))

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