Stephens lowered the firm’s price target on Genuine Parts to $168 from $172 and keeps an Equal Weight rating on the shares following the company’s “mixed” Q2 report. Lower-than-expected U.S. automotive growth trends are expected to persist and with moderating inflation “we struggle to underwrite a material improvement in these comp trends” looking to the back half of the year, even if weather improves, the analyst tells investors.
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Read More on GPC:
- Genuine Parts price target lowered to $165 from $170 at Evercore ISI
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- Genuine Parts reports Q2 adjusted EPS $2.44, consensus $2.34
