CarMax price target raised to $70 from $66 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on CarMax to $70 from $66 but keeps a Hold rating on the shares. The company’s Q1 results were in-line with the firm’s muted expectations, the analyst tells investors in a research note, noting that while affordability “modestly improved”, its sales trends remain challenged, the analyst tells investors in a research note. CarMax share challenges also remain, including less competitive pricing and possible shifts in buying behavior and mix, Truist added.