Genuine Parts initiated with a Buy at Loop Capital

Loop Capital last night initiated coverage of Genuine Parts (GPC) with a Buy rating and $155 price target The firm says the organic sales growth within the company’s automotive business will begin to recover into 2025, driven by easy compares, rebounding miles driven, and increasing vehicle costs. Loop also anticipates industrial demand will begin to accelerate off a low base during the back-half of the year. Genuine Parts’ “robust” free cash flow fuels its acquisition engine, delivering compounding growth, with additional deals expected during 2025, the analyst tells investors in a research note. it views the stock’s as “highly attractive” at current levels.