CarMax price target lowered to $77 from $80 at Evercore ISI

Evercore ISI lowered the firm’s price target on CarMax to $77 from $80 and keeps an In Line rating on the shares. The company’s fiscal Q2 results show CarMax is managing margin and driving web traffic despite affordability headwinds, though the firm is reducing its EPS estimates and trimming its base case forecast to reflect softer used unit trends and a less favorable credit and SG&A backdrop, the analyst tells investors.