UBS Raises Price Target on Genuine Parts (GPC) Ahead of Q3 Earnings

Core Viewpoint - UBS has raised its price target for Genuine Parts Company (GPC) from $135 to $140 while maintaining a Neutral rating, indicating a positive outlook on the company's strategic initiatives aimed at enhancing shareholder value [1] Company Performance and Expectations - Investors are expected to look for signs of market share stabilization in key categories during the upcoming Q3 earnings report on October 21, with core business trends anticipated to remain steady [2] - Genuine Parts Company has a strong dividend history, rewarding shareholders with increasing dividends for 69 consecutive years, currently offering a quarterly dividend of $1.03 per share, resulting in a dividend yield of 3.08% as of October 16 [3] Business Operations - Genuine Parts Company operates the largest automotive parts network globally, with over 10,800 locations, and has expanded its market presence through acquisitions of smaller businesses both domestically and internationally [4]