Piper Jaffray Neutral On U.S. Auto Parts (PRTS)

Piper Jaffray is Neutral on U.S. Auto Parts PRTS with an $8 price target, as Piper Jaffray expects slight upside surprise in revenue estimates. In the research note, Piper Jaffray writes, "We continue to expect upside to Street revenue in the September quarter. (We are at $68.5 million in revenue, vs. the Street at $67 million). We tweak our revenue estimate down to $68.5 million from $69.5 million previously due to a slight deterioration in industry growth metrics since the June quarter. We expect acquisition-related expenses to hamper bottom line results in the September quarter and maintain our ($0.01) EPS estimate (Street +$0.02), which we believe will be overlooked by investors given one time acquisition expenses should account for the shortfall. U.S. Auto Parts will likely report September quarter results in early November." Shares of U.S. Auto Parts lost 1.1% yesterday to close at $8.11, a loss of 9 cents.