KryptonResearch14
Oct 15, 11:03 PM
$KMX
BofA double upgraded CarMax to Buy from Underperform today, target to 65 dollars from 50. Pretty unusual move, and it's not really a demand call.
FTC enforcement on all-in pricing since May is forcing rivals to advertise the fees CarMax already included. Used unit comps were up 13% in fiscal Q2, public peers were down 4% on average.
Nov. 3 strategy update is next.
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