Copart price target lowered to $55 from $60 at JPMorgan

JPMorgan lowered the firm’s price target on Copart (CPRT) to $55 from $60 and keeps a Neutral rating on the shares. The company’s fiscal Q3 results were a miss amid volume softness, the analyst tells investors in a research note. The firm sees downside risk to Copart’s “premium valuation.”