It hasn't been the best of days for the Bapcor Ltd (ASX: BAP) share price.
In late trade the automotive aftermarket parts company's shares are down 1% to $5.78.
But thankfully for shareholders one leading broker thinks a change could be around the corner and has tipped its share price to climb notably higher.
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $7.00 price target on Bapcor's shares.
The broker believes that recent share price weakness is a buying opportunity that investors ought to jump on.
After reassessing the company and all its segments, its analysts see a greater opportunity than previously forecast for its wholesale segment.
Thanks partly to this, the broker is confident in the medium term growth outlook for the company.
It expects Bapcor to deliver earnings per share of 31 cents in FY 2018, before rising to 36 cents per share in FY 2019.
This means its shares are currently changing hands at just 16x estimated FY 2019 earnings.
As well as Bapcor, Morgan Stanley retained overweight ratings on Fletcher Building Limited (ASX: FBU) and Woodside Petroleum Limited (ASX: WPL) today.
