CarMax price target lowered to $60 from $70 at JPMorgan

JPMorgan lowered the firm’s price target on CarMax to $60 from $70 and keeps an Underweight rating on the shares. The analyst reduced Q3 and fiscal 2025 estimates to well below consensus driven primarily by lower volume and lower CarMax Auto Finance assumptions. While the shares have underperformed year-to-date, its still early to get constructive until forward estimates are firmly reset, the analyst tells investors in a research note.