Market Overview

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

Related SMP
Mid-Morning Market Update: Markets Open Lower; Morgan Stanley Q1 Profit Beats Expectations
Earnings Scheduled For February 26, 2016

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

Aug 2016JefferiesMaintainsBuy
Apr 2016Sidoti & Co.Initiates Coverage onBuy
Feb 2016JefferiesMaintainsBuy

View More Analyst Ratings for SMP
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Initiation Intraday Update Analyst Ratings


Related Articles (SMP)

View Comments and Join the Discussion!