<p>Needham 分析師 Chris Pierce 重申了對 KMX 股票的中性立場，今天給予了持有評級。</p>
<h3>享受 TipRanks Premium 50% 折扣，信心投資</h3>
<ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更聰明、更精準的決策</li>
<li>通過最新的新聞和分析保持市場領先，使您的投資組合始終處於最大潛力的狀態</li>
</ul>
<p>Chris Pierce 給予持有評級是基於與 CarMax 當前定位和未來不確定性相關的多種因素。他認為管理層重新強調更精準定價可能成為銷售量改善的潛在催化劑，特別是在一個全渠道環境中，公司不需要太多的運營槓桿就能實現盈利增長。同時，股票的估值在絕對水平上看起來具有吸引力，表明當前價格並不昂貴。</p>
<p>然而，Pierce 認為，關於激進定價和更廣泛的長期戰略如何最終轉化為可持續的利潤增長和市盈率擴張仍然缺乏清晰度。他相信，投資者可能會等待更明確的執行證據後再重新評估該股票，特別是考慮到 CarMax 現在面臨着最嚴峻的競爭環境，從爭奪傳統經銷商的市場份額轉向抵禦數字優先競爭對手的挑戰。這種合理的估值與不明確的上行潛力的結合支撐了他維持持有評級而不是轉向更積極推薦的決定。</p>
<p>在今天發佈的另一份報告中，瑞穗證券也維持了該股票的持有評級，目標價為 36.00 美元。</p>

車美仕

<p>Needham 分析師 Chris Pierce 對 CarMax (KMX) 股票維持持有評級，原因是估值具有吸引力，但戰略上存在不確定性。Pierce 強調管理層對定價的關注可能成為銷售的催化劑，但指出長期利潤增長不明確。瑞穗證券也維持 $36.00 的目標價，反映出類似的觀點</p>

<p>Needham analyst Chris Pierce has reiterated their neutral stance on KMX stock, giving a Hold rating today.</p>
<div class="lb-trans"><p>Needham 分析師 Chris Pierce 重申了對 KMX 股票的中性立場，今天給予了持有評級。</p>
</div><h3>Claim 50% Off TipRanks Premium and Invest with Confidence</h3>
<div class="lb-trans"><h3>享受 TipRanks Premium 50% 折扣，信心投資</h3>
</div><ul>
<li>Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
</ul>
<div class="lb-trans"><ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更聰明、更精準的決策</li>
<li>通過最新的新聞和分析保持市場領先，使您的投資組合始終處於最大潛力的狀態</li>
</ul>
</div><p>Chris Pierce has given his Hold rating due to a combination of factors tied to CarMax’s current positioning and future uncertainties. He views management’s renewed emphasis on sharper pricing as a potential catalyst for better sales volumes, especially in an omni-channel environment where the company does not need as much operating leverage to grow earnings. At the same time, the stock’s valuation appears attractive on an absolute basis, suggesting the shares are not expensive at current levels.</p>
<div class="lb-trans"><p>Chris Pierce 給予持有評級是基於與 CarMax 當前定位和未來不確定性相關的多種因素。他認為管理層重新強調更精準定價可能成為銷售量改善的潛在催化劑，特別是在一個全渠道環境中，公司不需要太多的運營槓桿就能實現盈利增長。同時，股票的估值在絕對水平上看起來具有吸引力，表明當前價格並不昂貴。</p>
</div><p>However, Pierce sees a lack of clarity around how aggressive pricing and the broader long-term strategy will ultimately translate into sustainable profit growth and multiple expansion. He believes investors will likely wait for clearer evidence of execution before re-rating the stock, particularly given that CarMax now faces its toughest competitive backdrop yet, shifting from taking share from traditional dealers to defending share against digital-first rivals. This blend of reasonable valuation but unclear upside potential underpins his decision to maintain a Hold rather than move to a more positive recommendation.</p>
<div class="lb-trans"><p>然而，Pierce 認為，關於激進定價和更廣泛的長期戰略如何最終轉化為可持續的利潤增長和市盈率擴張仍然缺乏清晰度。他相信，投資者可能會等待更明確的執行證據後再重新評估該股票，特別是考慮到 CarMax 現在面臨着最嚴峻的競爭環境，從爭奪傳統經銷商的市場份額轉向抵禦數字優先競爭對手的挑戰。這種合理的估值與不明確的上行潛力的結合支撐了他維持持有評級而不是轉向更積極推薦的決定。</p>
</div><p>In another report released today, Mizuho Securities also maintained a Hold rating on the stock with a $36.00 price target.</p>
<div class="lb-trans"><p>在今天發佈的另一份報告中，瑞穗證券也維持了該股票的持有評級，目標價為 36.00 美元。</p>
</div>

車美仕：估值具有吸引力，但戰略上升空間不確定，維持持有評級