Updated Aug 12 at 5:42am ET.
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Deutsche Bank slightly lowered its price target from $133 to $131. This is a minor adjustment that still sits about 7 percent above where the stock trades today. It suggests the firm sees the business as fairly valued right now rather than expecting a big move in either direction.
Source: Deutsche Bank
Goldman Sachs raised its price target from $138 to $140. This move follows a strong quarterly report where the company beat expectations and told analysts it expects higher profits for the full year. The new target is about 15 percent higher than the current stock price.
Source: Goldman Sachs
The company reported quarterly earnings of $4.28 per share, which was better than the $3.98 analysts expected. Revenue grew about 3 percent to $6.2 billion. This growth is a good sign that the company is successfully selling more parts even as the global car market faces some uncertainty.
Management also raised its financial goals for the full year. A big reason for the jump in earnings per share is the company's aggressive buyback program, which has reduced the total number of shares and made each remaining share more valuable. For long-term owners, this shows the company is effectively using its cash to reward shareholders while its core business stays on track.
See the full quarter, and how our tracked metrics did
Source: 8-K filing
Analysts have been adjusting their expectations following the company's recent earnings report. Most experts are split, with 14 of 31 rating the stock a buy, and the average target price suggests a 14% gain from today's price.
Management has a perfect record of beating expectations over the last two years. They consistently set a bar they can clear, which makes their raised full-year outlook much easier to trust.
| Expectation | |
|---|---|
| EPS | $3.30 |
| Revenue | $5.83B |
