CarMax price target lowered to $55 from $67 at Wedbush

Wedbush analyst Seth Basham lowered the firm’s price target on CarMax to $55 from $67 and keeps a Neutral rating on the shares. The analyst sees more downside than upside risk for CarMax’s shares into Q3 earnings on Thursday, December 22. While sentiment is negative and expectations are low, Basham anticipates a disappointing quarter as the rate of sales declines rival the Great Recession.