Market Overview

UPDATE: Goldman Sachs Downgrades CarMax on Strong Growth Story, Expected Headwinds


In a report published Wednesday, Goldman Sachs analyst Matthew J. Fassler downgraded the rating on CarMax (NYSE: KMX) from Buy to Neutral, but raised the price target from $53.00 to $55.00.

In the report, Goldman Sachs noted, “Over the past four quarters, KMX has begun to deliver on the promise of improving used vehicle supply, driving accelerating SSS growth, fine-tuning its expense management, and meeting or exceeding earnings expectations, ending a period of sustained underperformance. Since being added to the Buy list on 11/29/2012, KMX is +43% vs. +20% for the S&P 500 and +26% for the S&P Retail Index (RLX). At the same time, data from recent securitizations suggests credit profits are likely to decline in 2014; tougher compares in the core business and credit dynamics are likely to lead to slowing earnings growth. We lower our rating to Neutral.”

CarMax closed on Tuesday at $51.79.

Latest Ratings for KMX

Dec 2020Morgan StanleyMaintainsOverweight
Dec 2020JP MorganDowngradesOverweightNeutral
Nov 2020B of A SecuritiesMaintainsBuy

View More Analyst Ratings for KMX
View the Latest Analyst Ratings


Related Articles (KMX)

View Comments and Join the Discussion!

Posted-In: Goldman Sachs Matthew J. FasslerAnalyst Color Downgrades Analyst Ratings

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at