Stifel initiates coverage on LCI Industries with 'buy' rating

Stifel initiates coverage on automotive parts supplier LCI Industries LCII.N with "buy" rating; price target at $152

New PT represents a 25.2% upside to stock's last close

Shares of the company marginally up in morning trading

Stifel says LCI has strong and relatively consistent free cash flow profile, despite operating in highly cyclical markets

Brokerage notes LCI's wide range of products lets customers source more from one place instead of relying on multiple smaller suppliers or intermediaries

Brokerage says it views LCI's breadth as a competitive advantage simplifying customer supply chains

Adds LCI has paid a solid and increasing dividend returning almost 50% of adjusted net income to shareholders since 2019; its current dividend of $4.60 annually represents a strong 3.9% yield

Including session moves, LCI shares up 0.6% YTD