CarMax price target raised to $70 from $55 at Wedbush

Wedbush analyst Seth Basham raised the firm’s price target on CarMax to $70 from $55 and keeps a Neutral rating on the shares after hosting meetings for investors with CFO Enrique MayorMora and Assistant Vice President, Investor Relations David Lowenstein. The firm came away comfortable with the company’s positioning in a challenging and uncertain environment and incrementally more positive on the medium-term outlook.