Dorman Products initiated with an Overweight at Stephens

Stephens analyst Jeff Lick initiated coverage of Dorman Products (DORM) with an Overweight rating and $185 price target The maker of aftermarket auto parts is a secular growth story that benefits from the decline of auto affordability, an aging car park and the array of different propulsion systems “caused by there being no clear-cut winner,” the analyst tells investors. The firm, which also sees Dorman as a net tariff beneficiary, vies the the stock as “relatively undiscovered and under owned” despite the company’s $4.8B market cap and shares trading near all-time highs, the analyst added.