Motorcar Parts price target raised to $14 from $12 at Roth MKM

Roth MKM raised the firm’s price target on Motorcar Parts to $14 from $12 and keeps a Buy rating on the shares. The company’s Q3 results were surprisingly soft on growth and margins but healthier on free cash flow and balance sheet metrics, the analyst tells investors in a research note. Despite a soft couple of months in November-December, Motorcar Parts management also reiterated FY24 guidance and cited Q4 as being “off to a strong start”, the firm added.