Evercore ISI lowered the firm’s price target on Advance Auto Parts (AAP) to $72 from $80 and keeps an In Line rating on the shares. Advance is rebuilding by focusing on the what’s right for the customer and the firm likes the strategic focus of simplifying the game plan to elevate customer service and parts availability. However, the firm favors auto retailer O’Reilly Automotive (ORLY) among the group for share gain and execution potential with Advance facing heavy lifting for supply chain, store operations, and “a lackluster consumer backdrop,” the analyst tells investors.
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Read More on AAP:
- AAP Earnings: Advance Auto Parts Rises on Q1 Release, Optimistic Outlook
- Advance Auto Parts announces merchandising leadership changes
- Advance Auto Parts backs FY24 CapEx view $200M-$250M
- Advance Auto Parts backs FY24 EPS view $3.75-$4.25, consensus $3.82
- Advance Auto Parts reports Q1 diluted EPS 67c, consensus 68c
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