BUZZ-Dorman Products rises after Stephens initiates with 'overweight' rating
Dorman Products' shares rose nearly 1% to about $153 after Stephens initiated coverage with an 'overweight' rating and a price target of $185, indicating a 22.8% upside. The brokerage highlighted Dorman's ability to supply hard-to-find parts, which supports sales and margins. With tariffs and inflation affecting vehicle affordability, Dorman's products show price/demand inelasticity. Currently, seven of eight brokerages rate the stock as 'buy' or higher, with a median price target of $176.5. Year-to-date, shares are up about 19%.
Shares of auto parts supplier Dorman Products (DORM.O) rise nearly 1% to about $153 in early trading, after Stephens initiates co with “overweight” rating, PT at $185
PT represents a 22.8% upside on stock’s last close
Brokerage says DORM’s ability to identify and supply parts which have poor substitutes in the market is beneficial to both sales and gross margins
“As tariffs and inflation make vehicles expensive and less affordable, the non-discretionary and “break fix” nature of DORM’s products provide them with a fair amount of price/demand inelasticity,” brokerage says
Seven of eight brokerages rate the stock “buy” or higher, and one “hold”; their median PT is $176.5 - according to data compiled by LSEG
Including session moves, shares up about 19% YTD
