Truist lowered the firm’s price target on Genuine Parts (GPC) to $129 from $164 and keeps a Buy rating on the shares after its Q3 earnings miss. The firm notes that it had expected better Q3 results, but both of the company’s end markets haven’t recovered as much as anticipated and, when combined with higher-than-expected cost pressures, earnings have now been reset sharply lower for FY24 and FY25, the analyst tells investors in a research note.
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Read More on GPC:
- Genuine Parts price target lowered to $120 from $145 at Wedbush
- Genuine Parts price target lowered to $125 from $145 at UBS
- Genuine Parts price target lowered to $129 from $164 at Truist
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