BofA analyst John Murphy lowered the firm’s price target on CarMax to $49 from $100 and keeps an Underperform rating on the shares after the company reported Q3 results "well below" consensus due to a significant decline in same-store unit sales and weaker performance from its auto finance unit. Based on the material miss in Q3 and "tough market dynamics," Murphy is lowering his EPS estimates in FY23, FY24, FY25, and FY26.
Published first on TheFly
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