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Fly News Breaks for December 4, 2019
Dec 4, 2019 | 08:21 EDT
Northcoast analyst John Healy upgraded IAA to Buy from Neutral with a $56 price target. The analyst said the share losses with GEICO are now understood by the market and leadership has identified the potential volume loss exposure. Further, Healy expects salvage frequency to continue to climb higher through the next few years, ultimately creating volume gains ahead of collision levels, and a view that progress on closing the margin gap between Copart is doable with a move to emphasize online sales over day of sales auction events.
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