CarMax price target lowered to $75 from $100 at Oppenheimer

Oppenheimer analyst Brian Nagel lowered the firm’s price target on CarMax to $75 from $100 and keeps an Outperform rating on the shares. A unique post-pandemic dynamic within the used car sector, characterized by persistently elevated prices, and a confidence-driven softening in underlying demand, have weighed meaningfully upon sales trends at CarMax lately, Nagel tells investors in a research note. The analyst believes that current disruptions are likely shorter term and should soon give way to rebounding sales and clearer signals of more consistent, stronger market share gains.