Genuine Parts price target raised to $157 from $155 at Truist

Truist raised the firm’s price target on Genuine Parts to $157 from $155 and keeps a Buy rating on the shares after its in-line Q4 results and FY24 guidance. The company’s U.S. Auto remained challenged and below expectations in Q4 as growth has slowed due to significantly lower same SKU inflation and execution issues, the analyst tells investors in a research note. Truist adds however that Genuine Parts’ Industrial segment continues to deliver positive growth against tough comparisons and maintained strong margins.