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Fly News Breaks for September 20, 2018
KAR, CPRT
Sep 20, 2018 | 09:20 EDT
Gabelli analyst Matthew Paige upgraded Copart (CPRT) to Buy from Hold as he raised his valuation multiple to 15x EBITDA from 12x to reflect the premium he believes the stock deserves relative to KAR Auction Service (KAR) given its EBITDA margin advantage and his view that current market conditions better support the salvage auction business than wholesale.
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