Copart Shares Rise Over 4% After JPMorgan Upgrade
On September 3, 2026, Copart (NASDAQ: CPRT) shares rose more than 4%, outperforming the S&P 500 index which fell by 0.7%. The surge followed an upgrade from J.P. Morgan analyst Jash Patwa to 'overweight' with a raised price target of $40 per share, up from $32. Patwa cited optimism around Copart's performance under returning CEO Jay Adair and the company’s growing market share in some states at the expense of an unnamed insurer. He highlighted Copart’s competitive advantages such as strong service levels and long-standing relationships with key insurers. Additionally, reports suggest that Copart is exploring a potential acquisition of CCC Intelligent Solutions Holdings. The analyst also noted favorable trends for Copart's business model due to increased total loss frequency — the rate at which cars are declared totaled by insurers — which benefits salvage market operators like Copart.
Topics: CEO return Copart JPMorgan Chase price target increase