Oppenheimer Maintains an 'Outperform' on CarMax (KMX); Issues for Supply Constraints?
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Price: $59.92 -0.22%
Rating Summary:
12 Buy, 23 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 23 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer maintains an 'Outperform' on CarMax (NYSE: KMX) price target of $38.00.
Analyst, Brian Nagel, said, "CarMax represents one of the most compelling longer term new unit growth stories in Hardlines Retail, in our view. The chain will report Q2 (Aug.) results on Sept. 20th. Underlying drivers within the increasingly dynamic KMX business model have strengthened lately. Recent data suggest that the demand environment for KMX continues to improve. Limited supplies of high-quality, late-model used cars, however, continue to weigh on sales. Near-term market sentiment has once again crept into KMX shares. We are concerned somewhat that investors could again be disappointed by a "good but not great" quarterly report from the company. Longer term oriented investors are advised to use any potential weakness in KMX as a buying opportunity."
FY12 EPS estimate raised from $1.80 to $1.85 and FY13 from $1.95 to $2.00.
For an analyst ratings summary and ratings history on CarMax click here. For more ratings news on CarMax click here.
Shares of CarMax closed at $32.21 yesterday.
Analyst, Brian Nagel, said, "CarMax represents one of the most compelling longer term new unit growth stories in Hardlines Retail, in our view. The chain will report Q2 (Aug.) results on Sept. 20th. Underlying drivers within the increasingly dynamic KMX business model have strengthened lately. Recent data suggest that the demand environment for KMX continues to improve. Limited supplies of high-quality, late-model used cars, however, continue to weigh on sales. Near-term market sentiment has once again crept into KMX shares. We are concerned somewhat that investors could again be disappointed by a "good but not great" quarterly report from the company. Longer term oriented investors are advised to use any potential weakness in KMX as a buying opportunity."
FY12 EPS estimate raised from $1.80 to $1.85 and FY13 from $1.95 to $2.00.
For an analyst ratings summary and ratings history on CarMax click here. For more ratings news on CarMax click here.
Shares of CarMax closed at $32.21 yesterday.
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