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Fly News Breaks for May 17, 2019
CPRT
May 17, 2019 | 08:19 EDT
As previously reported, Guggenheim analyst Ali Faghri downgraded Copart to Neutral from Buy as he predicts an upcoming significant slowing in industry growth due to declining accident frequency and more gradual increases in total loss frequency. He also noted that the stock's current valuation is 30% above its 5-year average, leaving a less favorable risk/reward.
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