Truist raised the firm’s price target on Advance Auto Parts (AAP) to $62 from $55 and keeps a Hold rating on the shares. The company posted a Q1 beat, with sales/margin upside as sales continue to benefit from same-SKU inflation as well as a boost from tax refunds in Q1, the analyst tells investors in a research note. The firm added that, overall, Q1 was solid and the business is trending in the right direction, though a lot of positives are priced in.
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