BGB Securities Maintains Hold on CarMax (KMX)

BGB Securities is out with its report today on CarMax KMX, maintaining Hold. In a note to clients, BGB Securities writes, "Since downgrading KMX to HOLD on November 16, 2010, when the stock price was $32.86, KMX stock remains at the same general price level five months later. Our assessment in November 2010 that there would be no near-term catalysts to drive the stock materially higher has proven to be generally correct. We would reiterate a similar opinion for the remainder of 2011; we continue to believe that KMX stock will not move materially higher from current levels until management decides to signal that they plan to pursue a more aggressive strategy of opening new stores." BGB Securities has a $35 PT on KMX. At the time of posting, shares of KMX were trading pre-market at $32.05, up 0.56% from Tuesday's close.