UBS lowered the firm’s price target on Genuine Parts (GPC) to $125 from $145 and keeps a Neutral rating on the shares. Genuine Parts’ Q3 results missed expectations and while its investment case offers much potential, the company has not delivered on this in the last couple of quarters, the analyst tells investors in a research note. Its outlook reflects the weak environment that is expected to persist in Q4, and the stock lacks a near-term catalyst, the firm says.
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