Goldman Sachs Reiterates Buy Rating, $46 PT on CarMax on Mixed February Results
In a report published Monday, Goldman Sachs analyst Matthew J. Fassler reiterated a Buy rating and $46.00 price target on CarMax (NYSE: KMX).
In the report, Fassler noted, “From its typical monthly release, we learned that CarMax Auto Finance credit metrics showed mixed results in February. Charge offs rose 4 bp mom, better than the +5 bp historical mean. Delinquencies fell 32 bp mom, unfavorable versus the seasonal norm of a 39 bp sequential decline. Competitor auto delinquencies were also above the seasonal norm, with ACF 30-day+ delinquencies falling 113 bp mom vs. the -194 bp mean, and COF delinquencies falling 119 bp mom vs. the -132 bp mean.”
CarMax closed on Friday at $41.66.
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Tags: Goldman Sachs