BUZZ-Genuine Parts rises after Raymond James lifts to 'strong buy'
Reuters02-24
BUZZ-Genuine Parts rises after Raymond James lifts to 'strong buy'
** Shares of automotive and industrial parts distributor Genuine Parts GPC.N up 2.4% at about $119 premarket
** Raymond James upgrades rating to "strong buy" from "market perform", maintains PT at $145
** Brokerage says improving industrial trends and valuations well below peers are creating meaningful upside despite recent share weakness
** Says co has positive catalysts on the horizon, with the market undervaluing its businesses going into the planned separation
** Five of 13 brokerages rate the stock "buy" or higher, eight "hold"; their median PT is $135 - data compiled by LSEG
** As of last close, shares down 5.5% YTD
(Reporting by Apratim Sarkar in Bengaluru)
((Apratim.Sarkar@thomsonreuters.com))
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