CarMax price target lowered to $80 from $90 at RBC Capital

RBC Capital lowered the firm’s price target on CarMax to $80 from $90 but keeps an Outperform rating on the shares after its Q2 results. Weaker than anticipated comps drove the earnings miss, and while the management should get credit for continued strong cost discipline, the growing affordability issues are likely to put a lid on the stock’s upside in the near-term, the analyst tells investors in a research note. The firm is also cutting its FY24 EPS view by 20c to $3.19 and its FY25 view by 28c to $4.00.