Markets & Finance

JP Morgan Ups Genuine Parts to Overweight

JP Morgan upgraded Genuine Parts (GPC) to overweight from neutral, citing more conviction about earnings per share (EPS) growth in 2006 and 2007.

Analyst Himanshu Patel raised his 2006 EPS estimate by 3 cents to $2.78 and his 2007 estimate by 12 cents to $3.15. He says that the company's growth outlook is going to beat market expectations over the next two years, among other things.

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