CarMax (KMX) is well-positioned to gain maket share in the used car industry aided by completion of its omnichannel platform, competitive but stable pricing environment and increasing demand for late model used cars, Wedbush said in a note Monday.

The firm said that despite removing its timeline for long-term targets due to recent macroeconomic uncertainty, CarMax remains confident in its ability to grow.

Used car comparable store sales accelerated in March and April as concerns over new car tariffs drove consumers toward more affordable vehicles and CarMax's focus on late-model vehicles and operational efficiency puts it in a strong position to benefit, Wedbush added.

While tariffs may raise cost of parts, the impact on total reconditioning costs is minimal and the company is well-insulated from supply challenges as it sources most of its inventory independently.

Wedbush reiterated an outperform rating for CarMax with a $90 price target.

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