Morgan Stanley analyst Simeon Gutman raised the firm’s price target on Advance Auto Parts (AAP) to $65 from $60 and keeps an Equal Weight rating on the shares. An earnings beat is “encouraging” and the turnaround story is progressing, but sustained topline momentum and delivery of margin and leverage targets is still needed, the analyst tells investors.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAP:
- Advance Auto Parts price target raised to $65 from $60 at UBS
- Advance Auto Parts price target raised to $65 from $60 at BMO Capital
- Advance Auto Parts price target raised to $60 from $57 at Citi
- Advance Auto Parts price target raised to $60 from $50 at Wells Fargo
- Advance Auto Parts price target raised to $54 from $49 at Goldman Sachs