CarMax (KMX) PT Raised to $43 at Stephens

Stephens analyst Jeff Lick raised the price target on CarMax (NYSE: KMX) to $43.00 (from $39.00) while maintaining a Equal Weight rating.

The analyst commented: "KMX (EW $43 PT) reports F4Q26 earnings BMO on 4/14. This is the first call for new CEO Keith Barr. It is also the first call since Starboard Value announced its $350M stake and nominations for 2 board members at this year’s shareholder meeting. Based on the high frequency data providers, KMX’s unit sales cadence appears to have accelerated during the quarter. We believe tactical buyside players are expecting flat to down 2% F4Q26 same-store units. Most investors we have spoken with expect a sequential retail GPU decline of ~$200 +/-, but with a very low degree of confidence. Our note dives into the set up a little deeper. Our sense is that KMX is fairly priced heading into this print. It has the feel of a game everyone wants to debate but few feel comfortable betting on, at least in the short term. A sense of early optimism is noticeable."

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