Genuine Parts price target raised to $146 from $143 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Genuine Parts (GPC) to $146 from $143 and keeps a Buy rating on the shares. The company’s Q3 results were in-line with estimates as both segments turned positive comps, and its U.S. Auto business has essentially posted its first positive comp in eight quarters, the analyst tells investors in a research note. Genuine Parts’ industrial businss is a “coiled spring” and should generate significant leverage as the industrial cycle eventually turns, the firm added.