Copart price target raised to $82 from $75 at Guggenheim

Guggenheim analyst Jonathan Elias raised the firm’s price target on Copart to $82 from $75 and keeps a Buy rating on the shares as the firm rolls its valuation out to fiscal 2024 following what it calls a "solid" fiscal Q2 earnings beat. Given that the firm sees visibility to $3-plus in earnings power as early as fiscal 2024, even in a recessionary/weaker macro backdrop, it believes the current risk/reward is positive.