Wedbush analyst Seth Basham said his CarMax model points to a "very weak" Q4 comparable sales decline of 7.0%, which he attributes primarily to stronger used versus new car prices. However, his analysis of sales by state shows that the slowdown has been broad-based and it is highly unlikely that a structural or competitive change would be to blame for such a sharp slowdown, Basham added. The analyst warned as well that comp sales comparisons remain tough through Q1, but he believes the transitory factors impacting CarMax will fade and recommends the stock on a longer view. Basham keeps an Outperform rating and $75 price target on CarMax shares.