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CarMax On The Fast Track, Analyst Upgrades Stock Citing Recovery Signs

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Needham analyst Chris Pierce upgraded the shares of CarMax Inc (NYSE:KMX) from Hold to Buy and announced a price target of $99.

The analyst is confident in a recovery growing in the face of early positive data and easy comps into the tax refund season, seasonally the best time of year for used vehicle sales.

Share growth would reverse losses that were driven by factors that are already moderating and not set to repeat, said the analyst.

Unit growth is the key KPI in the model, with KMX set to lever prior …

Full story available on Benzinga.com

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