Why Copart Stock Ticked 4% Higher on Thursday
An analyst upgraded his recommendation on the auto marketplace company.
Overview
Market players hit the gas pedal on auto marketplace operator Copart (NASDAQ: CPRT) on Thursday, following an analyst recommendation upgrade. With that fuel injection into the shares, they zoomed more than 4% higher that trading session. That was in sharp contrast to the benchmark S&P 500 index, which dipped by 0.7%.
The person behind the upgrade was Jash Patwa of JPMorgan Chase's J.P. Morgan. Well before market open Thursday, he moved his Copart recommendation up one peg to overweight (read: buy) from neutral. He accompanied this with a significant price target raise, to $40 per share from $32.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.