Bank of America upgrades CarMax to 'buy' as pricing gains boost market share and sales growth.

Bank of America upgraded CarMax to 'buy' from 'underperform' and raised its price target to $65 due to improved price competitiveness driving market share gains. CarMax's used-vehicle sales rose 13% in Q2, outperforming the industry decline of 2%. The Federal Trade Commission's price-transparency rules and CarMax's removal of processing fees have enhanced customer trust and supported sales growth. The broker expects further price reductions through cost savings in reconditioning and logistics, with a strategic update planned for November 3 as a key event for investors.

CarMax shares are trading at USD 52.01 on Pluang, showing a strong 1-day gain of 4.37%. The stock remains below its 52-week high of USD 64.22 but well above the low of USD 30.88. These figures are current as of Oct 16, 2026 00:31 WIB.