Genuine Parts price target lowered to $191 from $195 at Truist

Truist analyst Scot Ciccarelli lowered the firm’s price target on Genuine Parts to $191 from $195 but keeps a Buy rating on the shares. The company’s Q2 results were modestly better than expected and the management raises is 2023 guidance, but U.S. auto comps slowed to 1% as same SKU inflation moderated more than expected, the analyst tells investors in a research note. The firm adds however that the International Auto segment is still generating mid-single-digit positive comps and the Industrial segment continues to outpace its historical correlations.