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J.P. Morgan Sticks to Its Buy Rating for CarMax (KMX)

J.P. Morgan analyst Rajat Gupta CFA maintained a Buy rating on CarMax (KMXResearch Report) yesterday and set a price target of $130.00. The company’s shares closed last Monday at $101.37, close to its 52-week low of $95.04.

According to TipRanks.com, CFA is a 4-star analyst with an average return of 21.1% and a 60.4% success rate. CFA covers the Consumer Goods sector, focusing on stocks such as Penske Automotive Group, Group 1 Automotive, and Sonic Automotive.

Currently, the analyst consensus on CarMax is a Moderate Buy with an average price target of $136.25, a 38.2% upside from current levels. In a report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $140.00 price target.

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CarMax’s market cap is currently $16.39B and has a P/E ratio of 13.98.

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CarMax, Inc. is as a holding company, which engages in the retail of used vehicles and wholesale vehicle auction operator. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) business segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations. The CAF segment provides vehicle financing to customers buying retail vehicles. The company was founded by Richard L. Sharp and William Austin Ligon in September 1993 and is headquartered in Richmond, VA.

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