RBC Capital analyst Steven Shemesh raised the firm’s price target on Valvoline (VVV) to $46 from $44 and keeps an Outperform rating on the shares. The company delivered a clean Q1 beat with SSS up 5.8% and about 45 bps of gross margin expansion, and while Q2 SSS could be a little noisy with Winter Storm Fern impact, the underlying top-line trends appear to be healthy, the analyst tells investors in a research note.
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