Stephens Starts Dorman Products (DORM) at Overweight

Stephens analyst Jeffrey Lick initiates coverage on Dorman Products (NASDAQ: DORM) with a Overweight rating and a price target of $185.00.

The analyst comments "We are initiating coverage of Dorman Products (DORM OW $185 PT) with an Overweight rating and $185 PT. Our PT is based on a 12.5x EV/NTM EBITDA multiple, implied P/E of 19.1x. DORM is a developer, producer, marketer of aftermarket auto parts with a primary emphasis on failures. Their internal motto is “if you need a Dorman part, then you either aren’t moving or aren’t moving safely”. DORM is a secular growth story that benefits from the decline of auto affordability, an aging car park and the array of different propulsion systems caused by there being no clear-cut winner. DORM’s ideation process gives 30%+ of its parts an after-market exclusive for a period of time. We view DORM as a net tariff beneficiary. Despite its ~$4.8B mkt. cap and trading near all- time highs, we see DORM as relatively undiscovered and under owned."

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 $155.30 yesterday.

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