CarMax (KMX) PT Raised to $74 at Truist Securities Following 'Solid 1Q'

Truist Securities analyst Scot Ciccarelli raised the price target on CarMax (NYSE: KMX) to $74.00 (from $72.00) while maintaining a Hold rating.

The analyst commented: "Solid 1Q, but sustainability remains a key question; 1Q was solid, with used unit comps of 8.1%, which may have been bolstered by pull forward demand as consumers looked to buy ahead of tariffs. While the qtr was solid, the company is facing much more difficult comparisons in 2Q/2H and sustainability remains a key question as the co needs to see an accel in their “core run rate” (we think 2-yr stack is good proxy) to hit our/cons #s. In our view, CarMax has likely moved beyond the bulk of the pull forward demand, still faces share challenges and, potentially, higher vehicle prices (augmenting affordability pressures), which may continue to pressure growth. Remain Hold, adjust PT to $74 from $72."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)
• Mosaic sets pricing for tender offers on up to $1.4B in debt