LKQ Corp. price target raised to $58 from $55 at Baird

Baird raised the firm’s price target on LKQ Corp. to $58 from $55 and keeps an Outperform rating on the shares. The firm said they continue to like the stock and it remains a Best Idea for 2024 for investors seeking lower-risk discretionary ideas, noting that demand for auto parts is only lightly cyclical. With another year of projected free cash flow over $1 billion, they also like the potential for share repurchase activity to fuel modest EPS upside as the year unfolds.