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Fly News Breaks for October 12, 2018
PRTS
Oct 12, 2018 | 10:06 EDT
Barrington analyst Gary Prestopino says the resignation of U.S. Auto Parts CEO Aaron Coleman is "completely unexpected." Coleman was appointed CEO in 2017 and was instrumental in leading the implementation of a growth strategy that was based on driving profitability and free cash flow generation rather than just top-line growth, Prestopino tells investors in a research note. He says that while U.S. Auto Parts continues to be an "undervalued show-me stock," the departure of Coleman "adds some uncertainty" to his investment thesis. The analyst, however, keeps an Outperform rating on the stock with a $5 price target.
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