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.
Published first on TheFly
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- Barclays sees a ‘reset’ in U.S. retail but ‘not a recession yet’
- Advance Auto Parts initiated with an Underweight at Barclays
- Advance Auto Parts price target lowered to $159 from $161 at Citi
- Wedbush downgrades Advance Auto Parts to Neutral, cuts price target to $145
- Advance Auto Parts downgraded to Neutral from Outperform at Wedbush
