LKQ Corp. price target lowered to $43 from $46 at Roth Capital

Core Viewpoint - Roth Capital has lowered the price target for LKQ Corp. to $43 from $46 while maintaining a Buy rating after the company's Q3 earnings exceeded expectations, supported by a one-time tax benefit and a slight increase in FY25 guidance [1] Group 1: Earnings Performance - LKQ Corp. reported an outsized performance in Q3, which was bolstered by a one-time tax benefit [1] - The firm has modestly increased its guidance for FY25 following the strong Q3 results [1] Group 2: Market Conditions - The North American collision market is currently facing headwinds, indicating potential challenges in that segment [1] - The European market is showing signs of softness, which may impact overall performance [1] Group 3: Long-term Outlook - Despite current market challenges, Roth Capital sees no change in the long-term prospects of LKQ's recession-resistant business model [1] - The sale of Self Service is expected to further support the company's long-term outlook [1]