Buy CarMax Stock Because Used Cars Are Hot, Says Morgan Stanley

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Morgan Stanley analyst Adam Jones thinks used-car dealer chain CarMax is going to get in on the online-action format in a big way. Jones repeated his Buy rating on CarMax stock, and lifted his target price to $180 from $116.


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Things are hopping in the used-car market. Demand is soaring, and so are the stocks trying to reinvent the market.


Vroom

(ticker: VRM) shares are up more than 130% since coming public a few months ago, and

Carvana

(CVNA) shares were up 159% for the year through Thursday. Shift.com, a venture backed online used car seller, is on target to come public through a merger into the special purpose acquisition company

Insurance Acquisition

(INSU) later this month.

Morgan Stanley analyst Adam Jones thinks the used-car dealer chain

CarMax

(KMX) is going to get in on the online action in a big way. On

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