BGB Securities Raises CarMax PT To $37

BGB Securities raised its CarMax KMX price target to $37 in a research report published today. BGB Securities has previously given CarMax a Buy rating. In the report, BGB Securities states, "Adj. EPS was $0.52 in 1Q12, up from $0.41 in 1Q11, and beating our $0.48 estimate. Revenues grew 18% YoY in the quarter to $2.68 billion (up from $2.26 billion in 1Q11 and topping our $2.49 billion estimate), driven by a 6% YoY gain in comp store used unit sales and a healthy pricing environment for used vehicles." Shares of CarMax were trading at $31.87 at the time of posting, down 2.09% from Thursday's market close.