Copart price target raised to $52 from $48 at JPMorgan

JPMorgan raised the firm’s price target on Copart to $52 from $48 and keeps a Neutral rating on the shares. The analyst increased estimates to reflect higher volume and revenue assumptions due to stronger anticipated contribution from the company’s non-insurance segment. The firm continues to view Copart as a long-term winner benefitting from “economic moats honed over multiple decades including established infrastructure footprint and marketplace network effects.”