Movement Alert｜CarMax Rises 6.13% in Regular Trading, UBS Target Price Upgrade and Turnaround Expectations Boost Sentiment

Market Focus07-10

On July 10, CarMax rose 6.13% in regular trading, trading at $54.04/share, with turnover of $38.32 million.

On the news front, UBS Securities recently raised its price target on CarMax to $57 from $42 and increased its fiscal 2027 EPS forecast to $2.72 from $2.29, citing the company being in the early stages of a turnaround. The upgrade followed CarMax's Q1 results that significantly beat expectations, with EPS of $1.31 versus the consensus estimate of $0.94, and revenue of $8.014 billion surpassing the $7.410 billion estimate. UBS noted early progress across pricing, marketing, and conversion initiatives, with used vehicle gross profit per unit also beating projections.

The brokerage cautioned that progress could be \"bumpy,\" noting CarMax still expects fiscal 2027 margin concession and a $200 GPU reduction to support sales growth. Activist investor Starboard Value's earlier involvement, which prompted board changes and cost-cutting initiatives, continues to support turnaround expectations. Multiple positive catalysts have driven the stock's sustained rebound from earlier lows.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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