ORLANDO, Fla., Feb. 22, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies Inc., today announced that it has issued a third quarter 2007 research update for LKQ Corporation (Nasdaq:LKQX).
Ekta Bhatia, MBS, RedChip Research Analyst, wrote in the report:
"LKQ Corp. continues to expand its business and network through acquisitions, significantly expanding its market position. In FY 2007, the Company acquired 100% equity interest in eight businesses -- five in the OEM product business, two in the aftermarket products business and one in the refurbishing business. These acquisitions not only help LKQ Corp. expand its presence in existing business and market segments but also provide access to new markets and product offerings. The acquisition of Keystone Automotive Industries, Inc., concluded in mid-October 2007, was significant and promises to consolidate LKQX's market position for alternative, automotive replacement parts. Thus, LKQX has significant potential to deliver strong top- and bottom-line growth, and we continue to maintain our 'Buy' rating for the Company."
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Disclosure:
The views expressed in this report, (which includes the actual rating assigned to the company as well as the analytical substance and tone of the report), accurately reflect the personal views of the analyst(s) covering the subject securities. No part of the analyst's compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report. The analyst(s) contributing to this report do not hold any share of the subject securities. 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, neither the information nor any opinion expressed constitutes an offer, or an invitation to make or garner an offer, to buy or sell any securities or any options, futures or other derivatives related to such securities ("related investments"). This publication was furnished on the condition that it will not form a primary basis for any investment decision. Each investor must make their own determination of the appropriateness of an investment in any securities referred to herein based on the legal, tax, and accounting considerations applicable to such investor and their own investment strategy. Any opinions expressed herein are subject to change. The subject security is not a client of RedChip Companies, Inc., or any of its affiliates.