We rank LKQ Corp #2.  We estimate LKQ will be worth ~$61 in six years from now (sometime in 2012) as the stock trades at 24.5x our 2012 EPS estimate of $2.48 (versus .  If the stock reaches these levels (earnings and multiple,) it represents nearly 200% upside from Friday’s closing stock price ($18.49 on 07/07/06.)  Using an 8% discount rate (over the course of the next six years,) based on our 2012 earnings forecast, we calculate a net present value of $34.  This means that based on what we think the company will earn in 2012, the stock should be worth $34 today, an 86% premium from current levels.   

We think LKQ is revolutionizing the way (and even types of parts) dist ...

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