Citi lowered the firm’s price target on Advance Auto Parts to $153 from $159 and keeps a Neutral rating on the shares slightly positive post earnings stock reaction is a function of low expectations and not a vote of confidence that 2023 guidance was a conservative outlook, the analyst tells investors in a research note. The firm believes Advance Auto "still has plenty of work to hit 2023 guidance and until it becomes a margin expansion story again."
Published first on TheFly
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