JPMorgan analyst Rajat Gupta raised the firm’s price target on CarMax (KMX) to $72 from $70 and keeps an Underweight rating on the shares post the fiscal Q3 report. The firm We come away from the results with no change to its view that the relative risk/reward on CarMax shares remains unattractive at current levels. However, the company’s execution was better than expected in Q3, with CarMax participating in the broader industry recovery, coupled with tight control, the analyst tells investors in a research note.
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