Shares of Dorman Products Inc. (DORM) surged 5.16% on November 4th, 2024, following a bullish analyst action that raised optimism about the company's prospects.
Roth MKM analyst Scott Stember raised the firm's price target on DORM to $153 per share from $126, while reiterating a Buy rating on the stock. The significant increase in the price target suggests Stember sees substantial upside potential for Dorman's shares.
Analyst price target revisions can often act as catalysts for stock movements, as they reflect changing sentiment and expectations about a company's future performance. In this case, Roth MKM's bullish stance appears to have fueled investor enthusiasm, driving DORM's stock higher on the day.
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