Genuine Parts price target lowered to $120 from $145 at Wedbush

Wedbush lowered the firm’s price target on Genuine Parts (GPC) to $120 from $145 and keeps a Neutral rating on the shares. The firm notes Genuine Parts reported Q3 results that missed expectations on the top line when adjusted for acquisitions, and were well below estimates on the bottom line. The company also slashed its full year outlook, implying that weakness persists through Q4, Wedbush adds.