Genuine Parts upgraded to Outperform from In Line at Evercore ISI

Evercore ISI analyst Greg Melich upgraded Genuine Parts (GPC) to Outperform from In Line with a price target of $135, up from $128. The company’s “base case” provides 12% share upside plus a 3.4% dividend yield “in a volatile world.” Evercore views Genuine Parts as one of the “better insulated companies” in its coverage from a tariff perspective. The company has the ability to pass through rising prices in both its auto and industrial segments, and there is even a possibility that earnings may move higher from tariffs, the analyst tells investors in a research note. It believes much of the risk associated with a “choppy” low-income consumer and tariffs is baked into the shares.