Why Is CarMax (KMX) Stock Soaring Today

Shares of CarMax (KMX) jumped 7.4% after an analyst at Baird raised the company’s price target to $48 from $42, maintaining an Outperform rating. This more optimistic valuation was influenced by industry forecasts predicting a favorable market for used car buyers in 2026 due to improved inventory levels. Despite the recent rise, CarMax’s stock is still trading 49% below its 52-week high from February 2025.

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