Roth MKM analyst David Bellinger downgraded Advance Auto Parts (AAP) to Neutral from Buy with a price target of $140, down from $180. The firm says that following an impressive Q4 print from peer O’Reilly Automotive (ORLY), it can no longer dismiss the "serial underperformance" of Advance Auto. Advance’s market share seems to be unwinding quickly as competitor pricing actions season, making it difficult to assume a material margin recovery from here, the analyst tells investors in a research note.
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Published first on TheFly
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