Sterne Agee CRT Upgrades Genuine Parts (GPC) to Buy
Get Alerts GPC Hot Sheet
Rating Summary:
7 Buy, 12 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 6 | Down: 3 | New: 2
Join SI Premium – FREE
Sterne Agee CRT upgraded Genuine Parts (NYSE: GPC) from Neutral to Buy with a price target of $108.00, citing an attractive entry point. The analyst said long-term upside outweighs near-term FX risks.
Analyst Ali Faghri commented, "GPC's leading brand, historical performance, solid balance sheet, and consistent returns to shareholders have traditionally been cited as reasons to justify a premium multiple for the stock. FX concerns have weighed on shares in 2015, but we expect results to improve throughout the remainder of the year as comparisons ease and short-term headwinds dissipate. While FX remains a near-term concern, at current levels, we believe the long-term upside makes the risk/reward favorable."
For an analyst ratings summary and ratings history on Genuine Parts click here. For more ratings news on Genuine Parts click here.
Shares of Genuine Parts closed at $91.47 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Genuine Parts (GPC) PT Raised to $183 at Truist Securities
- RBC Capital Upgrades Galp Energia SGPS SA (GALP:LI) (GLPEF) to Outperform
- Sea Ltd. (SE) PT Raised to $85 at Jefferies; 'Solid Execution Across Different Segments'
Create E-mail Alert Related Categories
Analyst Comments, UpgradesRelated Entities
Sterne AgeeSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!