U.S. markets open in 6 hours 39 minutes
  • S&P Futures

    4,229.00
    +19.00 (+0.45%)
     
  • Dow Futures

    33,402.00
    +142.00 (+0.43%)
     
  • Nasdaq Futures

    13,464.00
    +72.00 (+0.54%)
     
  • Russell 2000 Futures

    1,978.40
    +8.90 (+0.45%)
     
  • Crude Oil

    91.87
    -0.06 (-0.07%)
     
  • Gold

    1,799.50
    -14.20 (-0.78%)
     
  • Silver

    20.46
    -0.28 (-1.36%)
     
  • EUR/USD

    1.0303
    +0.0001 (+0.01%)
     
  • 10-Yr Bond

    2.7860
    0.0000 (0.00%)
     
  • Vix

    19.74
    -2.03 (-9.32%)
     
  • GBP/USD

    1.2216
    -0.0002 (-0.02%)
     
  • USD/JPY

    132.7400
    -0.1330 (-0.10%)
     
  • BTC-USD

    24,539.68
    +1,606.10 (+7.00%)
     
  • CMC Crypto 200

    577.66
    +46.44 (+8.74%)
     
  • FTSE 100

    7,507.11
    +18.96 (+0.25%)
     
  • Nikkei 225

    27,819.33
    -180.63 (-0.65%)
     

CarMax Added to Tactical Outperform List at Evercore

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

By Sam Boughedda

Investing.com -- CarMax Inc (NYSE:KMX) stock is trading higher Monday after Evercore ISI analyst Michael Montani initiated a Positive Tactical Trading Idea on the stock, adding it to the firm's "Tactical Outperform" list.

CarMax shares have gained 1.4%, although they are still down 28.8% in 2022. Montani raised the price target on CarMax to $105 from $85, maintaining an In Line rating.

According to The Fly, in a note to investors, the analyst said that ahead of the company's earnings in late June, he sees sequential improvement across pricing, unit volume, and credit trends.

Montani believes this should mark a turning point for the stock as "the bad news of double-digit spring comp declines is widely understood."

He added that Carvana 's (NYSE:CVNA) updated operating strategy, which confirmed a sequential uptick in unit demand and gross profit per unit trends in the second quarter, is positive for CarMax.

Related Articles

CarMax Added to Tactical Outperform List at Evercore

Musk tells conference a lower price for Twitter might be appropriate

S&P 500 ends lower as Tesla falls, while energy rallies