Raymond James Lifts Genuine Parts to Strong Buy, Cites Breakup Valuation Upside
Raymond James upgraded Genuine Parts Company from Outperform to Strong Buy and established a $145 price target based on a sum-of-the-parts analysis tied to the planned split of its Auto and Industrial businesses. The firm argues the market is undervaluing the Auto operations relative to peers, and projects the separation to close by the first quart…