CarMax price target lowered to $88 from $96 at Baird

Baird lowered the firm’s price target on CarMax to $88 from $96 and keeps an Outperform rating on the shares. The firm noted quarterly results were not far from published consensus expectations, but notably, CarMax web traffic is up, but many potential car buyers especially in lower income tiers are unwilling to “click buy” after seeing the monthly payment calculation.