As previously reported, Wedbush downgraded CarMax (KMX) to Neutral from Outperform with a price target of $54, down from $84, after the company reported “weak results” in Q2 that underperformed expectations across “all key metrics.” These results are amplifying investors’ concerns around management’s ability to sustain market leadership and drive additional growth, according to the analyst, who has put the firm’s estimates under review for potential revision following the earnings conference call.
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