02:25 PM EDT, 03/21/2024 (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 raise our 12-month price target by $10 to $65, based on 38.2x our FY 2025 (Jul.) EPS estimate, a justified premium to CPRT's five-year mean forward P/E of 33.0x. Our adjusted EPS estimates are unchanged. After trading through our former price target, we raise our target on the stock and reiterate our Buy opinion, as we still see some room to run and we like CPRT's largely recession-resistant business model, duopoly-like market position, favorable tailwinds from the aging U.S. vehicle fleet, strong free cash flow, and growing net cash balance ($2.6B at the end of January). We see CPRT's earnings growth being driven both by steadily rising revenue and gross margin expansion. In our opinion, CPRT faces a high-class problem: whether to return cash to shareholders or invest in growth.