Carvana has a ‘competitive moat' over CarMax. But don't sleep on CarMax's stock, Morgan Stanley says.

Core Viewpoint - Morgan Stanley has reduced its price target on CarMax shares but still sees potential for upside despite the competitive pressure from Carvana [1] Company Summary - CarMax's shares have been downgraded by Morgan Stanley, indicating a cautious outlook on the company's stock performance [1] - Despite the price target cut, Morgan Stanley believes that CarMax has opportunities for growth in the market [1] Industry Summary - The used car market is experiencing increased competition, particularly from Carvana, which poses challenges for CarMax [1] - The competitive landscape is evolving, and companies in the used car sector must adapt to maintain market share [1]