Wells Fargo Upgrades KMX On Possibilities Of Upbeat Earnings

Analysts at Wells Fargo Securities upgraded CarMax Inc KMX from “market perform” to “outperform” mentioning that KMX is likely to beat expectations, especially in the latter half of the year. Wells Fargo Securities added there were close to six longer term opportunities for KMX that had not been taken into account in the estimates. These include faster store growth, a business model that is increasingly driven by Internet sales and better self-sufficiency in sourcing. Shares of CarMax gained 3.09% to $24.38 at 9:44 am. KMX's shares have gained 9.34% over the past month and have declined 2.47% so far this year. More Analyst Ratings here