Genuine Parts price target raised to $162 from $157 at JPMorgan

JPMorgan raised the firm’s price target on Genuine Parts to $162 from $157 and keeps an Overweight rating on the shares ahead of the Q3 report. Both sides of the company’s business “remain sluggish and the portfolio effect is keeping a lid on the stock,” the analyst tells investors in a research note. With risk to estimates, the firm expects the stock to “remain capped” until momentum emerges on one side of its business.