12:35 PM EDT, 05/23/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain a 12-month target of $70, based on a FY 26 (Jul.) P/E of 38.9x, a justified premium to CPRT's five-year mean forward P/E of 34.1x. We maintain our EPS estimates of $1.60 for FY 25 and $1.80 for FY 26. CPRT posts Apr-Q EPS of $0.42 vs. $0.39 (+8%), in line with consensus. Revenue rose 7.5% to $1.21B ($20M short of consensus), and gross margin contracted 100 bps to 45.6% (120 bps below consensus). Service revenue continues to drive growth (+9% Y/Y), more than offsetting weakness in vehicle sales revenue (-2%). We think CPRT's robust and growing net cash balance (now at $4.3B) will bode favorably for future value creation, as it could return cash to shareholders through buybacks and/or dividends, make accretive acquisitions, or invest in organic growth. This week, S&P Global Mobility reported that the average U.S. vehicle age hit a new record high of 12.8 years (up from 12.6 last year), which we think is a trend that will benefit Copart ( CPRT ). Consequently, we raise CPRT to a Strong Buy from Buy.