Stifel affirms CarMax (NYSE: KMX) at Buy with a $75 price target following Q4 results reported ahead of the opening bell Thursday.

Analyst James Albertine noted that CarMax's Q4 EPS of $0.67 compared with the firm's $0.60 estimate.

Albertine also highlighted the following key metrics:

• Used Retail - Outperform: KMX reported +7.0 percent used retail comp unit growth, well above our +6.0 percent estimate and +6.0 percent StreetAccount consensus. We note +0.6 percent comp ASP growth was below our +2.5 percent model, blending to +7.6 percent total comp used retail sales (vs. our +8.1 percent estimate). KMX noted its seventh consecutive quarter of y/y growth in traffic as well as improved conversion.
• Used Wholesale - Outperform: KMX reported +12.3 percent wholesale unit growth vs. our +6.0 percent model while +3.5 percent ASP growth was ahead of our +2.0 percent estimate, blending to +17.0 percent total wholesale sales growth vs. our +8.1 percent model.
• CAF Income - Underperform: CAF income rose +11.8 percent y/y to $90.4 mm vs. our +8.2 percent y/y to $87.4 mm estimate, driven by a +17.8 percent y/y increase in average managed receivables (vs. our +16.8 percent y/y estimate) to $8.2 bn. Total interest margin declined to 6.26 percent from 6.63 percent in 4Q13 relative to our 6.20 percent estimate.

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CarMax closed at $68.39 yesterday.