Auto Parts: The Current Valuation Provides An Attractive Opportunity, Says Roth Capital
In a research note published today, analyst Jeff Martin of Roth Capital reiterated a Buy rating on U.S. Auto Parts Network (NASDAQ:PRTS) with a $4.50 price target, which represents a potential upside of 85% from where the stock is currently trading.
Martin noted, “The secular shift to online purchase of do-it-yourself auto parts from brick and mortar, combined with the continued average aging of light-grade vehicles provides a compelling investment theme for U.S. Auto Parts, in our view. Yesterday’s strategic investment in AutoMD by Federal-Mogul and Cox Automotive commands attention. We believe the current valuation provides an attractive opportunity and re-establish estimates with a Buy rating with a $4.50 price target.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jeff Martin has a total average return of 0% and a 40.0% success rate. Martin is ranked #2358 out of 3319 analysts.