| 2016-11-23 07:49:23|
CPRT 07:49 11/23 11/23/16
Copart weakness a buying opportunity, says Baird
Baird analyst Craig Kennison said Copart reported impressive Q1 results but the market may have missed it. The analyst noted improved revenues fueled by accidents, higher severity and numerous catastrophes, and market share gains. Kennison raised his estimates and price target and believes investors misunderstand the company dynamics, which will create a trading opportunity. Kennison recommend buying shares on a dip, reiterated his Outperform rating, and raised his price target to $60 from $56 on Copart shares.