LKQ Corp : Close to Rising Star status but with limited upside potential
We initiated coverage on the 2026 and 2028 LKQ notes with a Buy recommendation and with a Neutral recommendation on the 2024 LKQ Italia notes on 20 July 2020 when a rare entry window on the issuer emerged amid pressure on the bond market generated by the pandemic. In February 2021, the excellent performance of the notes led us to maintain a Buy recommendation only on the LKQ 2028 paper. After the redemption of the 2026 LKQ paper in April 2021, only the 2024 and 2028 LKQ notes rem...LKQ is a holding company. Through its subsidiaries, the company provides alternative vehicle collision replacement products and alternative vehicle mechanical replacement products. The company is also a provider of alternative vehicle replacement and maintenance products in the United Kingdom, Germany, the Benelux region (Belgium, Netherlands, and Luxembourg), Italy, Czech Republic, Poland, Slovakia, Austria, and other European countries. In addition to its wholesale operations, the company operates self service retail facilities across the United States that sell recycled automotive products from end-of-life-vehicles. The company is also a distributor of specialty vehicle aftermarket equipment and accessories.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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