LKQ Corporation Announces Results for Second Quarter 2024
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July 26, 2024 6:24 AM EDT
Baird analyst Craig R. Kennison lowered the price target on LKQ Corp. (NASDAQ: LKQ) to $50.00 (from $54.00) while maintaining a Outperform rating.
The analyst comments "September analyst event offers reset opportunity. LKQ missed expectations and lowered guidance, further frustrating shareholders looking for dependable performance.... More
July 26, 2024 4:49 AM EDT
JPMorgan analyst Ryan Brinkman lowered the price target on LKQ Corp. (NASDAQ: LKQ) to $54.00 (from $63.00) while maintaining a Overweight rating.
The analyst comments "LKQ shares fell -12.4% Thursday vs. the S&P 500 -0.5% after the company reported softer 2Q results, driven by lower revenue partly offset by cost savings, resulting in a -8% EPS miss vs. JPMe and -5% vs. consensus (i.e., EPS of $0.98 vs. JPMe $1.07 and Bloomberg consensus $1.03). Revenue in 2Q was $3,711 mn, lower than JPMe of $3,843 mn and consensus of $3,866 mn (see Table 1). Adjusted EBITDA of $484 mn was... More
