BofA/Merrill Lynch Downgrades LKQ Corp. (LKQ) to Neutral

BofA/Merrill Lynch downgraded LKQ Corp. (NASDAQ: LKQ) from Buy to Neutral with a price target of $28.00 (from $39.00) citing headwinds.

Analyst John Lovallo cut 2015-2017 EPS estimate. They believe the company faces operating challenges including lower scrap values, FX headwinds, & potential pricing pressure.

The firm cut FY 2015 EPS FROM $1.65 to $1.40, FY 2016 EPS from $1.95 to $1.60 and FY 2017 EPS from $2.25 to $1.80.

For an analyst ratings summary and ratings history on LKQ Corp. click here. For more ratings news on LKQ Corp. click here.

Shares of LKQ Corp. closed at $24.93 yesterday.

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