CarMax Analysts Boost Their Forecasts After Upbeat Q2 Results

CarMax Inc (NYSE: KMX) reported adjusted earnings of $1.16 per share for Q2, significantly surpassing the analyst estimate of 73 cents. Sales increased by 19.5% year-over-year to $7.88 billion, exceeding expectations of $6.98 billion. Retail used-vehicle sales rose 13.8% to 227,391 units, with comparable-store sales up 13%. Following the earnings announcement, analysts adjusted their price targets, with B of A Securities raising it from $45 to $50 and BNP Paribas increasing it from $33 to $48.