CarMax price target lowered to $70 from $78 at Stephens

Stephens lowered the firm’s price target on CarMax to $70 from $78 and keeps an Equal Weight rating on the shares. The used vehicle market continues to face headwinds from vehicle affordability and the firm’s estimates move lower after the company’s Q2 report, reflecting this through the first half of 2024, the analyst tells investors in a post-earnings note.