RBC Capital lowered the firm’s price target on Advance Auto Parts (AAP) to $57 from $60 and keeps a Sector Perform rating on the shares ahead of its Q4 results. The firm sees “top-line pressure”, and looking ahead to Q1, RBC is positioned slightly ahead as consensus doesn’t seem to embed a benefit from Winter Storm Fern and/or increased tax refunds y/y, the analyst tells investors in a research note.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAP:
- Netflix, Meta upgraded: Wall Street’s top analyst calls
- Stanley Black & Decker appoints Advance Auto Parts CEO Shane O’Kelly to board
- Arm upgraded, Flutter downgraded: Wall Street’s top analyst calls
- Advance Auto Parts upgraded to Buy at Northcoast amid ‘healthy’ demand trends
- Advance Auto Parts upgraded to Buy from Neutral at Northcoast