Seaport Research analyst Glenn Chin lowered the firm’s price target on CarMax to $95 from $100 and keeps a Buy rating on the shares. While the firm is disappointed by CarMax’s Q4 earnings miss, Seaport did not expect the recovery in comparable performance to be linear, the analyst tells investors. Additionally, with the anticipated continued improvement in used vehicle prices and supply, the firm expects the business to be on an upward trajectory from here.
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