Advance Auto Parts price target lowered to $159 from $161 at Citi

Citi analyst Steven Zaccone lowered the firm’s price target on Advance Auto Parts to $159 from $161 and keeps a Neutral rating on the shares. The latest installment of Citi’s auto repair sentiment tracker points to solid DIFM trends, but the level of optimism is moderating as shown by normalizing business conditions, decelerating hiring activity, and auto parts disinflation, the analyst tells investors in a research note. "The data is not flashing red, but the green lights throughout 2022 are in the rear-view mirror," writes Citi.