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In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on CarMax (NYSE: KMX), and raised the price target from $31.50 to $40.00.
In the report, Deutsche Bank noted, “Carmax reported a very strong quarter, posting EPS of $0.64 (vs cons / DBe $0.58 / $0.53). Vast majority of upside ($0.09 vs our est) was driven by volume (same-store retail +17% vs consensus 10%) and strong conversion (45% of YOY gross profit dropped to bottom-line as SG&A per-unit was down 6% YOY). And pricing was strong (gross margin per-unit was flat YOY and CAF interest rates were essentially flat sequentially). Maintain Hold.”
CarMax closed on Friday at $44.59.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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