Movement Alert｜CarMax Intraday Rise 5.44% in Regular Trading, BofA Upgrades Stock to Buy and Raises Target Price

Market Focus03:57

On October 16, CarMax rose 5.44% in Regular Trading, trading near $52.455 per share, with turnover of $139 million.

The move was supported by a fresh analyst upgrade: BofA raised CarMax to Buy from Underperform and lifted its target price to $65 from $50, arguing the company is at its most price-competitive level in years.

The note said CarMax benefited from cost cuts and from US Federal Trade Commission enforcement of dealer price transparency. After eliminating processing fees in May, the firm was seen as having room to invest further in pricing to drive unit growth while keeping gross profit per unit broadly stable. That view builds on CarMax's recent fiscal Q2 momentum, when the company reported EPS of $1.16 on $7.88 billion of revenue, ahead of market expectations, alongside 13.8% growth in used retail vehicle sales.

(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.)

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