Goldman Sachs Comments On Genuine Parts Co.

Goldman Sachs has put out a report on Genuine Parts GPC noting a strong 2Q for the company. In the report, Goldman Sachs writes, "2Q results were strong, but we believe revenue tailwinds driving the automotive and industrial divisions will moderate, gross margin rate progress has the potential to be choppy, and valuation is high. As such, we reiterate our Sell rating, relative to our coverage. Nevertheless, we lift our 12-month target price by $1 to $53, on our slightly higher estimates." Goldman Sachs also noted that high valuation shaped their conclusions. Goldman Sachs rates Genuine Parts a SELL with a price target of $53.00. Genuine Parts closed at $57.10 Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst RatingsConsumer DiscretionaryDistributorsGenuine Parts Co.Goldman Sachs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!