ORLANDO, Fla., Sept. 13, 2006 (PRIMEZONE) -- RedChip Independent, a division of RedChip Companies, announced today that they have updated research on LQK Corporation (Nasdaq:LKQX).
Lisa Springer, CFA, RedChip Research Analyst, wrote in the report:
"We initiated coverage of LKQ Corp with a BUY recommendation last November, citing the company's leadership position in a consolidating replacement parts market, strong organic growth and improving operating margins as reasons to invest. LKQ Corp has the number 1 market share in recycled OEM auto parts and is the No. 2 competitor in aftermarket parts. The company operates over 100 facilities nationwide and offers its customers a broad range of replacement systems, components and parts to repair light vehicles. Since we issued our original report, LKQ shares have surged from a price of $16.59 to $20.31 currently. We initiated coverage of LKQ Corp with a target price of $17.50. In mid-January of this year, we increased our target price to $19.00."
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RedChip Independent Research Disclosure
The analysts contributing to this report do not hold any shares of LKQX. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. LKQX is not a client of RedChip Companies or any of its affiliates.