As previously reported, BofA/Merrill upgraded America's Car-Mart two notches to Buy from Underperform and raised its price target to $44 from $27. Analyst Elizabeth Suzuki believes competition in the subprime auto market is beginning to ease and said she is seeing signs of credit tightening at other subprime lenders which should benefit Car-Mart. Suzuki expects significantly stronger same-stores sales growth, better recovery rates for Car-Mart, lower used vehicle pricing that will allow Car-Mart to sell inventory at affordable prices to its low-income customers, and improving scrap values that will help gross margins.