UPDATE: Barrington Research Downgrades Copart to Market Perform as Shares Reach PT
Barrington Research lowers its rating on Copart (NASDAQ: CPRT) from Outperform to Market Perform as shares reach its price target of $27.
Barrington Research comments, "The stock has hit our price target of the mid-$20 range and is fairly valued in our opinion. CPRT's solid long term fundamental outlook remains intact. We would not commit new money to the shares at these price levels and are moving to a MARKET PERFORM rating on the shares."
CPRT closed at $25.31 on Monday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.