BUZZ-Brokerages lift PT on CarMax amid sales rebound

Reuters12-20 21:51

** CarMax on Thursday reported its first quarterly sales increase in more than two years, in an early sign that the used car market was rebounding from months of slump

** At least six brokerages raise PT on the used car retailer post results

** Brokerages include RBC, which raises PT to $103 from $99, while Wedbush raises PT to $100 from $95

** "KMX has gained market share for two quarters in a row and should continue to do so in the coming quarters as the pricing and demand environment stabilize," says Wedbush

** Nine of 18 brokerages rate the stock "buy" or "higher", seven "hold" and two "sell"; with a median PT of $86 - LSEG data

** As of last close, shares up ~10% YTD

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

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