Advance Auto Parts price target lowered to $40 from $45 at Wells Fargo

Wells Fargo lowered the firm’s price target on Advance Auto Parts (AAP) to $40 from $45 and keeps an Equal Weight rating on the shares. The firm notes the company’s Q4 was noisy, with a soft Q1 start that makes the 2025 guide difficult to underwrite. With few signs of waning execution risk and second half of the year acceleration embedded, Wells remains sidelined.