Sterne Agee CRT Starts CarMax (KMX) at Buy

Sterne Agee CRT initiates coverage on CarMax (NYSE: KMX) with a Buy rating and a price target of $87.00, calling it the "only game in town."

Analyst Ali Faghri commented, "KMX offers a differentiated, consumer-friendly store experience with their "no-haggle" pricing concept and transparent lending terms. There are currently no other competitors with the scale and scope of KMX. The combination of a dominant market position, unique business model, favorable vehicle demographics, and long-term expansion opportunities position KMX to outperform. We are initiating with a Buy rating and an $87 price target."

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 $71.11 yesterday.

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