CarMax price target raised to $79 from $76 at Evercore ISI

Evercore ISI raised the firm’s price target on CarMax to $79 from $76 and keeps an In Line rating on the shares. CarMax has been strengthening the foundation for its seamless customer experience to better position for share gain, margin leverage, and profitable alternative revenue streams, notes the firm, which agrees that enhancing speed and efficiency while delivering a seamless omnichannel experience is “a winning recipe longer term.” However, in the near term, the choppy consumer backdrop, credit trends and affordability keep the firm on the sidelines.