Advance Auto Parts price target raised to $60 from $58 at Evercore ISI

Evercore ISI raised the firm’s price target on Advance Auto Parts (AAP) to $60 from $58 and keeps an In Line rating on the shares. Advance Auto Parts is “making strides,” but restructuring comes with a cost, as seen in the 30c full-year guide down due to increased interest expenses, the analyst tells investors in a post-earnings note. The restructuring of the balance sheet is “necessary but costly,” the analyst added.