Roth MKM analyst Scott Stember lowered the firm’s price target on Dorman Products to $94 from $118 but keeps a Buy rating on the shares. The analyst cites the company’s Q3 earnings miss and reduced FY23 guidance, though the firm remains “constructive” on the stock based on the “still strong” demand and an intact counter-cyclical narrative. The firm is also citing Dorman Products’ solid balance sheet and re-accelerating free cash flow being used to pay down acquisition-related debt.
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Read More on DORM:
- Dorman Products, Inc. Reports Third Quarter 2023 Results
- Dorman Products lowers 2023 adjusted EPS view $4.35-$4.55 from $5.15-$5.35
- Dorman Products reports Q3 adjusted EPS $1.40, consensus $1.59
- DORM Upcoming Earnings Report: What to Expect?
- Dorman introduces hundreds of new products, including more aftermarket exclusives and Dorman® OE FIX™ repair solutions
