UPDATE: Jefferies Starts America's Car-Mart (CRMT) at Hold

Jefferies initiated coverage on America's Car-Mart (NASDAQ: CRMT) with a Hold rating and $42 price target.

Analyst John Hecht states, "We are initiating on America's Car-Mart with a Hold rating as the company is managing to deal with a very competitive market in an adept fashion, although current valuation reflects a more growth-oriented cycle. We highlight CRMT as having a strong history of navigating challenging cycles and we believe the company has suitable competitive advantages, yet we expect competitive headwinds will continue to damper growth."

For an analyst ratings summary and ratings history on America's Car-Mart click here. For more ratings news on America's Car-Mart click here.

Shares of America's Car-Mart closed at $42.46 yesterday.

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