Get $50 discount on PRESS RELEASE use coupon code
---DISCOUNT50---
Submit A Press Release

Get $50 discount on PRESS RELEASE use coupon code DISCOUNT50 Submit A Press Release    Read Our Daily Business News Headlines

Friday, September 29, 2023
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Action|Movie Trailers
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
-- Advertisement --spot_img
HomeBusinessCarMax’s Overweight Rating Maintained at Morgan Stanley, Price Target Cut to $75

CarMax’s Overweight Rating Maintained at Morgan Stanley, Price Target Cut to $75


Morgan Stanley maintained its Overweight rating on CarMax (NYSE:KMX) but lowered its price target from $90 to $75 per share. In a note to clients, the analysts explained that CarMax’s forecasts are “first in” the downturn of the used car market, and the multiple has significantly decreased on a normalized/recovered earnings basis.
Despite the challenges facing the used car market, analysts remain relatively positive on CarMax, as earnings revisions for the fiscal year 2023 have taken the company’s forecast to levels that are less than half those achieved before the COVID-19 pandemic.
The analysts added that CarMax has consistently generated more than $2,000 in gross profit per unit (GPU) even in the current downturn of the used car market and it has one of the strongest balance sheets amongst the used car dealers.

Subscribe to get Latest News Updates

Latest News Articles

You may like more
more

CWEB Summarized Business Newsletter September 29, 2023

With the deadline approaching at 12:01 AM ET on...

Huntington Ingalls Stock Gains Following JPMorgan Upgrade

Huntington Ingalls (NYSE:HII) stock rose more than 1% pre-market...

Amazon Stock an Outperform at Evercore

Evercore ISI analysts reasserted an Outperform rating for Amazon...

Workday Stock Drops 10 percent on Disappointing Long Term Guidance

Workday (NASDAQ:WDAY) experienced a 10% intra-day drop in its...