Evercore ISI analyst Michael Montani lowered the firm’s price target on CarMax to $74 from $85 and keeps an In Line rating on the shares. The firm believes ongoing depreciation, pent up demand and lower rates will eventually enable CarMax to grow volume without sacrificing margin, but its sense is that share pressure could last for “another quarter or two” and it is reducing calendar year 24/25 EPS forecasts by about 10% following the company’s Q4 report.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KMX:
- CarMax Stock (NYSE:KMX) Is Bleeding, Prudent Investors Are Leaving
- KMX Earnings: CarMax Plummeted Following Disappointing Q4 Results
- Options Volatility and Implied Earnings Moves Today, April 11, 2024
- CarMax falls 7% to $73.50 after Q4 results miss estimates
- CarMax reports Q4 comparable store used unit sales increased 0.1%
