CarMax price target raised to $85 from $75 at Oppenheimer

Oppenheimer analyst Brian Nagel raised the firm’s price target on CarMax to $85 from $75 and keeps an Outperform rating on the shares. While the firm does not see a quick snapback in trends, it remains encouraged by CarMax’s ability to manage a difficult backdrop, and views current challenges as cyclical, not structural, the analyst tells investors in a research note.