Motorcar Parts initiated with a Buy at Freedom Capital

Freedom Capital initiated coverage of Motorcar Parts (MPAA) with a Buy rating and $20 price target The firm says Motorcar Parts is a North American supplier of non-discretionary replacement hard parts. It expects mid-single-digit sales growth as an “aging, high-mileage” vehicle fleet and elevated ownership costs sustain repair demand. Motorcar Parts is positioned for “steady growth,” the analyst tells investors in a research note.