Financial Wire

Research Alert: CFRA Reiterates Buy Opinion On Shares Of Carmax Inc.

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target by $5 to $60, based on a FY 28 P/E of 17.4x, a justified discount to KMX's 10-year mean forward P/E of 19.8x. We lower our FY 27 adjusted EPS estimate to $2.70 from $3.05 and introduce FY 28 at $3.45. Following KMX's fiscal Q4 2026 beat, we are raising our price target and reiterating our Buy view. We were encouraged by KMX's earnings release, as the company's top- and bottom-line results came in well above consensus. In our view, KMX has been a poorly managed company for some time and we continue to view it as in the early stages of a turnaround. Moreover, with consumer affordability concerns back in the spotlight due to the uptick in inflation, we think used vehicle demand could benefit - and KMX is one of the only used vehicle pure-plays. We think new CEO Keith Barr has his work cut out to improve margins, but we KMX's volumes and pricing improving in the coming quarters, which should help its bottom line given the significant operating leverage of auto dealerships.

Related Articles

Asia

Ora Banda Mining Confirms Mining Potential of Western Australia Project

Ora Banda Mining (ASX:OBM) confirmed the mining potential of the Golden Pole lode within its Waihi project in Western Australia, according to a Tuesday filing with the Australian bourse.Targeted infill and extensional drilling returned results, including 3 meters at 44 grams per tonne (g/t), including 2 meters at nearly 65 g/t grade of gold, 11 meters at 11 g/t including 2 meters at 48 g/t grade of gold, and 7 meters at almost 17 g/t including 3.5 meters at 31 g/t grade of gold, the filing said.Results will be incorporated into the revised underground mineral resource and ore reserve estimates, expected to be released in the June quarter, per the filing.

$ASX:OBM
Research

Research Alert: Aapl: Tim Cook Steps Down Earlier Than Thought; Well Planned And Minimizes Risk

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:AAPL announces CEO Tim Cook will step down September 1 after 15 years, with John Ternus (SVP Hardware Engineering) succeeding him, while Cook becomes Executive Chairman. Johny Srouji was promoted to Chief Hardware Officer, expanding his role beyond silicon to oversee all hardware engineering and technologies. We view this well-orchestrated succession as neutral to modestly positive despite being sooner than expected, addressing prior leadership continuity concerns while strategically pivoting from operational excellence to product-centric engineering leadership appropriate for AAPL's push into AI and foldables, among other categories. The four-month transition period with Cook's continued involvement as Executive Chairman mitigates execution risks (with Cook focusing on policy). Ternus brings 25 years of Apple experience, leading the Mac's Apple silicon transition and iPhone evolution. Srouji's elevation ensures continuity in Apple's silicon strategy, which has driven gross margins to the high-40% levels.

$AAPL
Asia

Rio Tinto Group Reports Higher Q1 Copper Equivalent Production, Iron Ore Production

Rio Tinto Group (ASX:RIO) on Tuesday reported a 9% year-over-year increase in copper equivalent production in the first quarter, while global iron ore production jumped 12% to 82.8 million tonnes.The company said first-quarter iron ore production at its Pilbara operations rose 13% year over year to 78.8 million tonnes, and Pilbara iron ore sales ticked 2% higher to 72.4 million tonnes.Tropical cyclones impacted Pilbara shipments by about 8 million tonnes, with around half expected to be recovered, Rio Tinto said.The company maintained its 2026 Pilbara iron ore sales guidance at 323 million to 338 million tonnes. It also reaffirmed consolidated copper production guidance of 800,000 to 870,000 tonnes and the total iron sales outlook of 343 million to 366 million tonnes.

$ASX:RIO