Advance Auto Parts price target raised to $50 from $40 at Roth Capital

Roth Capital analyst Scott Stember raised the firm’s price target on Advance Auto Parts (AAP) to $50 from $40 but keeps a Neutral rating on the shares. The firm cites the company’s better than expected Q1 results and affirmed 2025 and long-term guidance, also noting that the management’s turnaround initiatives are going as planned, with improvements set to take effect largely in the back half of the year, the analyst tells investors in a research note. Roth adds however that there is still plenty of work required and for more results to show before the firm can turn constructive on Advance Auto Parts shares.