Goldman Sachs Upgrades CarMax (KMX) to Buy; Idiosyncratic Catalysts
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Price: $59.92 --0%
Rating Summary:
12 Buy, 23 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 17
Rating Summary:
12 Buy, 23 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 17
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Goldman Sachs upgraded CarMax (NYSE: KMX) from Neutral to Buy with a price target of $42.00 (from $32.00).
"We view KMX as one of the best ideas in our space for 2013, with idiosyncratic catalysts; we see an inflection point in earnings and financial returns. Drivers include used car supply, tackling key technology challenges (mobile); benefiting from re-accelerated growth; and, capital allocation (first buyback)," the analyst comments. "While the stock has acted well of late (+27% since September 28 vs. S&P -2%), EPS trends and share price performance have underperformed growth peers for the past two years, and we expect the stock to ride accelerating earnings trends and a nominal rerating of its multiple as well."
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 $35.88 yesterday.
"We view KMX as one of the best ideas in our space for 2013, with idiosyncratic catalysts; we see an inflection point in earnings and financial returns. Drivers include used car supply, tackling key technology challenges (mobile); benefiting from re-accelerated growth; and, capital allocation (first buyback)," the analyst comments. "While the stock has acted well of late (+27% since September 28 vs. S&P -2%), EPS trends and share price performance have underperformed growth peers for the past two years, and we expect the stock to ride accelerating earnings trends and a nominal rerating of its multiple as well."
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 $35.88 yesterday.
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