Genuine Parts (GPC) PT Raised to $140 at UBS

UBS analyst Michael Lasser raised the price target on Genuine Parts (NYSE: GPC) to $140.00 (from $135.00) while maintaining a Neutral rating.

The analyst commented, "At this point, the dominant theme in the investment case on GPC is the potential for strategic actions to create shareholder value. While we expect that the company will message its commitment and progress with its strategic review, we don't think there will be many details on this process during its upcoming 3Q print. Thus, the market's focus will be on signs that the company is stabilizing its market share in its key segments. Overall, we think the underlying trends will be stable, which is widely anticipated. So, this print probably won't change the conversation that much."

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