Seeking Alpha

CarMax gains; KeyBanc upbeat about U.S. auto rebound

  • There's still plenty of cyclical growth left within the U.S. auto market, argues KeyBanc's Brett Hoselton, starting coverage on CarMax (KMX +2.7%) with a Buy and $62 PT.
  • Hoselton predicts CarMax will outperform the industry thanks to high off-lease user car sales, the maturing of recently-opened stores, and 15 planned 2015 store openings.
  • Auto auction firm KAR (KAR +1.4%) is also higher.
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