FBR Capital Remains Bullish on Dorman Products (DORM) as Product Launches Track Strongly

FBR Capital reiterated an Outperform rating and $62.00 price target on Dorman Products (NASDAQ: DORM) as product launches continue track strongly. Through May, the company has released 581 "former dealer only" products, up ~25% YOY, many of which feature custom improvements upon the original OE replacement parts.

Analyst Christopher Horn commented, "We are updating our Dorman Products model. Given our confidence around the company's long-term plan, and given our more general thesis that the U.S. aftermarket should continue to enjoy strong demand over the next two years (at a minimum), we are setting the bar a bit higher for Dorman in 2017. We are taking our 2017 EPS estimate up from $3.15 to $3.30 (Street: $3.21) and are also raising our revenue and EBITDA estimates. Our 2016 estimates remain set. We reiterate our $62 price target as well as our Outperform rating."

For an analyst ratings summary and ratings history on Dorman Products click here. For more ratings news on Dorman Products click here.

Shares of Dorman Products closed at $54.11 yesterday.

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