Loading...
Loading...
Oppenheimer's Brian Nagel reiterated
CarMax'sKMX Outperform rating with a $60.00.
Nagel's constructed inventory tracker indicator hinted at a rebound in sales recently. "Our proprietary KMX inventory tracker has improved on a YoY basis over the past three weeks following 18 weeks of declines, signaling to us a recent potential uptick in sales" stated the analyst.
The analyst still was concerned of declining used car sales, however, and "market sentiment remains subdued." Additionally, declining new car sales do not help CarMax's situation.
At the time of writing, CarMax traded at $52.97, down 0.02% in the after-market session.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in