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Fly News Breaks for November 22, 2019
Nov 22, 2019 | 15:35 EDT
Barrington analyst Gary Prestopino keeps his Market Perform rating on Copart but raises his FY20 and FY21 EPS views by 17c and 16c to $2.77 and $3.14 respectively after its better than expected Q1 results. The analyst notes that the quarter was driven by market share gains, new contract awards, and higher average selling prices for vehicles auctioned. Prestopino further sees "strong industry tailwinds" as U.S. vehicle inventories have grown by 15%.
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