Oppenheimer Comments on CarMax After Meeting With Senior Management

Oppenheimer provided color on CarMax KMX following a recent meeting with CarMax senior management. Oppenheimer has a $38 price target and Outperform rating on CarMax. In the report, Oppenheimer states, "Management is continuing to position the chain for a return to more aggressive new unit growth. Higher expenses associated with new center expansion are likely to pressure earnings somewhat over the next several quarters. Our Outperform rating on KMX reflects our positive longer-term outlook for the chain." Shares of CarMax closed today at $32.35, down 0.68% from Tuesday's market close.