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CarMax seen cruising through 2020

|About: CarMax, Inc. (KMX)|By: , SA News Editor

Oppenheimer says CarMax (KMX +0.6%) is set up well for 2020 as it backs its Outperform rating on the auto retailer.

"In our view, while nearer-term challenges for KMX persist, we are increasingly optimistic that the combination of strengthening internal efforts and an improving sector backdrop has the potential to underpin steadier and stronger results at the chain, at least through 2020," writes analyst Brian Nagel.

Oppenheimer's price target of $118 on CarMax represents +30% upside potential for shares and is above the average sell-side PT of $104.93.

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