CarMax (KMX) shares rose about 4% in the afternoon session after BofA Securities upgraded the stock to Buy from Underperform and raised its price target to $65 from $50. Analysts credit FTC price transparency enforcement and CarMax's own pricing work for making it the most price-competitive in years, with the company attributing about half of its improved price position to the rule. Used-unit comparable sales rose 13% in the fiscal second quarter versus a 2% industry decline, and a BofA check found CarMax's advertised prices 0.3% above the market average, compared with Carvana at 1.2% below. The Nov. 3 strategy update is seen as a near-term catalyst, with cost cuts expected to help sustain comps. Shares later cooled to $51.75, though the stock remains up 31.7% year to date and 19.4% below its 52-week high of $64.22 from August 2026.
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