UPDATE: Jefferies Reiterates Hold Rating, Raises PT on America's Car-Mart on Strong Fiscal 3Q
In a report published Wednesday, Jefferies reiterated its Hold rating on America's Car-Mart (NASDAQ: CRMT), and raised its price target from $36.00 to $43.00.
Jefferies noted, “CRMT surprised the Street with much stronger than anticipated unit sales in the quarter. Expectations were low going into the print on concerns that larger subprime auto lenders had begun to impact volume and pricing in the buy-here pay-here segment. Results clearly show these concerns to be misplaced.”
America's Car-Mart closed on Tuesday at $45.93.
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