Wall Street Maintains a Positive Opinion on LKQ Corporation (LKQ), Here’s Why

After the release, connected December 5, John Babcock from Barclays reiterated a Hold standing connected the banal with a $33 terms target. More recently, connected December 10, Jeff Lick from Stephens initiated LKQ Corporation (NASDAQ:LKQ) with a Buy standing and a $39 terms target.

Management noted that the commencement of the imaginable merchantability of its Specialty conception is portion of its multi-year effort to simplify its portfolio. Justin Jude, President and Chief Executive Officer of the company, noted that they demonstrated committedness to their strategy by successfully selling the Self-Service segment. Moreover, the CEO besides noted that the determination comes aft a cautious reappraisal of the marketplace environment, which suggests charismatic divestiture opportunities. Management noted that they person not yet acceptable a definitive timetable oregon deadline for the completion of the sale.

Jeff Lick from Stephens, who initiated a Buy standing connected the stock, precocious noted the institution to beryllium a deep-value banal with a beardown escaped currency travel yield. He added that contempt the company’s debased valuation, it enjoys a important competitory borderline based connected the availability of parts and pricing power. Lick besides noted that the company’s strategy to absorption connected its halfway concern by selling non-core segments is expected to heighten its fiscal performance.

LKQ Corporation (NASDAQ:LKQ) is simply a starring distributor of alternate and specialty parts for automobiles and different vehicles. The banal has had a challenging twelvemonth and is down 19% year-to-date.

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.