Jefferies Starts Copart (CPRT) at Hold

Jefferies initiates coverage on Copart (NASDAQ: CPRT) with a Hold rating and a price target of $40.00.

Analyst Bret Jordan commented: "We believe CPRT's US unit growth story remains compelling as improving vehicle utilization trends and a growing auto population point to rising US crash/salvage volumes. As unfavorable foreign exchange (strong US$) has negatively impacted a large foreign customer base and CPRT is aggressively focused on international market expansion, we are somewhat cautious regarding near term margin outlook. We initiate with a Hold."

For an analyst ratings summary and ratings history on Copart click here. For more ratings news on Copart click here.

Shares of Copart closed at $34.78 yesterday.

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