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UPDATE: Bank of America Initiates Standard Motor Products at Buy on Aftermarket Exposure

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Bank of America initiated coverage on Standard Motor Products (NYSE: SMP) with a Buy rating and a price objective of $23 a share.

Bank of America commented, "We view SMP as relatively well positioned in the large, historically stable, auto aftermarket, particularly given the size and age of the US vehicle fleet, which should continue to drive demand for engine and temperature components. In addition, we believe SMP's expansion in the Original Equip. and adjacent markets will provide future growth, diversification, and the opportunity to leverage scale."

Standard Motor Products closed at $18.01 on Tuesday.

Latest Ratings for SMP

DateFirmActionFromTo
Apr 2016Sidoti & Co.Initiates Coverage onBuy
Feb 2016JefferiesMaintainsBuy
Jan 2016CL KingUpgradesNeutralBuy

View More Analyst Ratings for SMP
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Posted-In: Bank of AmericaAnalyst Color Initiation Intraday Update Analyst Ratings

 

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