CarMax price target raised to $80 from $65 at Baird

Baird analyst Craig Kennison raised the firm’s price target on CarMax to $80 from $65 and keeps an Outperform rating on the shares. The analyst noted CarMax reported better results in a difficult market. Baird said for patient investors, we see good value in CarMax as the clear market leader in a massive used car market with superior scale at key nodes in the car-buying process.