Market Overview

UPDATE: Credit Suisse Upgrades CarMax to Outperform, Raises PT

Share:
Related KMX
6 Most Undervalued Stocks In Chuck Akre's Portfolio
CarMax's Story Can Only Get 'Better From Here,' Analyst Says After Q4 Print
Camping World Holdings: A Diversified RV Business Model That Deserves A Better Multiple (Seeking Alpha)

In a report published Friday, Credit Suisse upgraded its rating on CarMax (NYSE: KMX) from Neutral to Outperform, and raised its price target from $32.00 to $42.00.

Credit Suisse noted, “We are upgrading KMX from Neutral to Outperform. We view KMX as a well-run, inexpensively valued premier retail growth story that is on the cusp of a positive earnings inflection point. By early to mid-2013, investments tied to accelerating store growth should crest, recently opened stores should enter and elevate the comp base, and most importantly, late model used vehicle supply should improve. Those factors should allow KMX to deliver accelerating earnings gains and upside, which, along with ~10% annual square footage growth, positions it to be one of the best multi-year growth stories in our view.”

CarMax closed on Thursday at $32.67.

Latest Ratings for KMX

DateFirmActionFromTo
Apr 2018GuggenheimInitiates Coverage OnBuy
Apr 2018Credit SuisseMaintainsOutperformOutperform
Apr 2018Bank of AmericaMaintainsBuyBuy

View More Analyst Ratings for KMX
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Upgrades Analyst Ratings

 

Related Articles (KMX)

View Comments and Join the Discussion!