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IAA

IAA

$40.22

-0.215 (-0.53%)

, CPRT

Copart

$74.22

-0.39 (-0.52%)

10:15
07/08/19
07/08
10:15
07/08/19
10:15

IAA initiated with a Market Perform at Barrington

Barrington analyst Gary Prestopino started IAA (IAA) with a Market Perform rating and $43 price target. The analyst believes IAA is fairly valued at a current 20% discount to Copart (CPRT). However, as the company successfully executes on its growth and margin improvement initiatives, this discount can narrow over time to 10% or less, Prestopino tells investors in a research note.

IAA

IAA

$40.22

-0.215 (-0.53%)

CPRT

Copart

$74.22

-0.39 (-0.52%)

IAA IAA
$40.22

-0.215 (-0.53%)

07/01/19
07/01/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. IAA (IAA) initiated with a Buy at SunTrust. 2. Cardlytics (CDLX) initiated with an Outperform at William Blair. 3. Americold Realty Trust (COLD) initiated with a Buy at Citi. 4. Lyft (LYFT) initiated with a Neutral at Monness Crespi. 5. Fortress Biotech (FBIO) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/01/19
SPHN
07/01/19
INITIATION
Target $45
SPHN
Overweight
IAA initiated with an Overweight at Stephens
Stephens analyst Daniel Imbro initiated IAA (IAA) with an Overweight rating and $45 price target following the completion of the company's spinout from KAR Auction Services (KAR). He favors the company's exposure to the salvage industry and sees IAA being well-positioned to continue its solid growth, adding that he thinks its guidance is achievable and Street estimates "look beatable."
07/02/19
GUGG
07/02/19
INITIATION
Target $48
GUGG
Buy
IAA initiated with a Buy at Guggenheim
Guggenheim analyst Ali Faghri initiated IAA (IAA) with a Buy rating and $48 following the company's completion of its spinoff from KAR Auction (KAR). Faghri sees the salvage market as a duopoly with pricing power and high barriers to entry and sees the valuation gap with Copart (CPRT) narrowing. He also sees IAA having a long-term margin improvement opportunity of 300-400 basis points, driven by reducing physical auctions and various cost savings initiatives. Separately, Faghri downgraded KAR Auction to Sell from Neutral this morning.
07/02/19
GUGG
07/02/19
DOWNGRADE
Target $20
GUGG
Sell
KAR Auction downgraded to Sell after IAA spinoff at Guggenheim
As previously reported, Guggenheim analyst Ali Faghri downgraded KAR Auction (KAR) to Sell from Neutral following the company's completion of its spinoff of IAA (IAA), citing his view of the cyclical headwinds for industry wholecar volume growth, increasing online competition, slower AFC growth due to declining industry physical auction volumes and higher loan loss provisions and downside risk to guidance. He set a $20 price target on KAR shares. Separately, Faghri initiated coverage of IAA with a Buy rating and $48 price target this morning.
CPRT Copart
$74.22

-0.39 (-0.52%)

05/17/19
GUGG
05/17/19
DOWNGRADE
GUGG
Neutral
Guggenheim downgrades Copart to Neutral on expected slower industry growth
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.
05/24/19
RHCO
05/24/19
NO CHANGE
Target $78
RHCO
Buy
Copart price target raised to $78 from $67 at SunTrust
SunTrust analyst Stephanie Benjamin raised her price target on Copart to $78 and kept her Buy rating after its "strong" Q3 earnings beat driven by outperformance in the company's U.S. and international operations. The analyst also raises her FY19 and FY20 EPS targets by 7c and 11c to $2.21 and $2.48 respectively, with added upside potential coming from the "favorable secular tailwinds of less damaged and younger vehicles, increased revenue per unit, and further development of its German market.
05/24/19
BRRR
05/24/19
NO CHANGE
BRRR
Market Perform
Outlook for Copart remains solid, says Barrington
Barrington analyst Gary Prestopino kept his Market Perform rating on Copart after its "very solid" Q3 results, saying the company gained market share in the quarter. The analyst says Copart 's marketing focus on international buyers has contributed to "significant growth in bidding activity" and drove higher average selling prices since international clients typically buy rebuildable higher-value vehicles. Prestopino also contends that the outlook for Copart remains positive, adding that the progress being made in its Germany market is encouraging.

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CMG

Chipotle

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BYND

Beyond Meat

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NFLX

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AMZN

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AMZN

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AMZN

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BHVN

Biohaven Pharmaceutical

$44.16

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CE

Celanese

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F

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RTN

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UTX

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LMT

Lockheed Martin

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ARES

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HAFC

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PAYS

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MEOH

Methanex

$43.19

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SHIP

Seanergy Marine

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SONM

Sonim

$13.42

0.24 (1.82%)

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KINS

Kingstone Companies

$8.81

0.09 (1.03%)

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Options
Preliminary option volume of 22.6M today »

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BA

Boeing

$377.34

16.17 (4.48%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

16:24
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Fly Intel: Wall Street's top stories for Friday »

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BA

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$377.34

16.17 (4.48%)

MSFT

Microsoft

$136.62

0.33 (0.24%)

AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

AAPL

Apple

$202.62

-3.02 (-1.47%)

WMT

Walmart

$113.91

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DIS

Disney

$139.86

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GCI

Gannett

$9.43

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CRWD

Crowdstrike

$83.50

10.75 (14.78%)

SKX

Skechers

$39.00

4.25 (12.23%)

PACB

Pacific Biosciences

$5.34

-0.53 (-9.03%)

ILMN

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CHWY

Chewy

$30.70

-2.09 (-6.37%)

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