CarMax price target raised to $101 from $98 at Needham

Needham raised the firm’s price target on CarMax (KMX) to $101 from $98 and keeps a Buy rating on the shares. The firm is citing the continuation of second-half dynamics in the used auto market to start FY25, with industry unit gains and specifically CarMax unit and share gains driving fixed cost absorption as well as continuation of improved auto loan performance, the analyst tells investors in a research note.