BMO Capital raised the firm’s price target on Advance Auto Parts (AAP) to $50 from $40 and keeps a Market Perform rating on the shares. The company delivered stronger-than-expected Q1 results behind its Pro business and had positive commentary around its internal improvement initiatives, the analyst tells investors in a research note. Advance Auto’s 2025 guide was only reiterated however amid ongoing macro headwinds, and while the firm continues to think its plan conceptually makes sense, it is still very early in the story, BMO added.
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