Monro price target raised to $30 from $25 at Wells Fargo

Wells Fargo raised the firm’s price target on Monro to $30 from $25 and keeps an Equal Weight rating on the shares. The firm notes the bar was low, but Monro’s Q1 update topped expectations with narrowing comp declines, a June tire unit inflection, and signs of “controlling the controllables.” Outperformance is warranted, but risks remain via macro headwinds, Wells adds.