** J.P.Morgan cut its price target on auto parts distributor LKQ Corp LKQ.O to $40 from $49
** New PT is still 26% above stock's last close
** Maintains rating at 'overweight'
** Co on Thursday trimmed its full-year profit and revenue outlook, citing subdued demand for auto parts in North America and Europe
** J.P.Morgan says despite some operational positives, co's full-year guidance cut was overdue and reflects weaker-than expected recovery in North American repairable claims
** Says passing on tariff costs to customers will likely make aftermarket parts more expensive for body shops
** Shares up about 1% at $32, in premarket trade
** Seven of nine brokerages rate the stock "buy" or higher, two "hold"; their median PT is $44.25- data compiled by LSEG
** As close, stock had fallen 13.7% YTD
(Reporting by Apratim Sarkar)
((Apratim.Sarkar@thomsonreuters.com))
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