Dorman Products initiated with an Overweight at Wells Fargo

Wells Fargo analyst David Lantz initiated coverage of Dorman Products (DORM) with an Overweight rating and $175 price target The firm views the company as a “compelling way” to gain exposure to the “attractive” and defensive automotive aftermarket. The company’s innovation strategy offers competitive advantages and both its light duty and heavy segments are well positioned for eventual industry recoveries, the analyst tells investors in a research note.