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CarMax shares are poised to break out because of the company's opportunity to capture more of the used car market, according to Morgan Stanley.
The firm bumped CarMax to the number one spot on its rankings of U.S. auto dealers and reiterated its overweight rating for CarMax stock.
"We see [CarMax] as a best in class operator with an opportunity to grow market share," Armintas Sinkevicius said in a note to clients Wednesday. The analyst also said the company's upcoming results will compare more favorably to prior quarters.
