CarMax price target lowered to $72 from $82 at Truist

Truist lowered the firm’s price target on CarMax to $72 from $82 and keeps a Hold rating on the shares. The company’s Q2 results were largely in line, including a 9% decline in used unit comps, as the market is ecognizing the increasing likelihood of a longer and slower recovery ramp, the analyst tells investors in a research note. Truist adds however the while the sales run rates appear to be stabilizing and comps can turn modestly positive in the second half of the year, the affordability challenges in the market “aren’t going away any time soon”.