Gabelli Maintains Buy on Genuine Parts Co. (GPC)

Gabelli is out with its report today on Genuine Parts Co. GPC, maintaining Buy. In a note to clients, Gabelli writes, "Shares currently trade at roughly a 20% discount to our FY12 PMV estimate of $66 per share, providing sufficient margin of safety for investors before factoring in the 3.4% current return on GPC's dividend. We believe GPC management will continue to grow its core operations, steadily increasing its return to shareholders in the process." Shares of GPC closed Friday at $52.78.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsConsumer DiscretionaryDistributorsGabelliGenuine Parts Co.
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