Advance Auto Parts price target lowered to $185 from $220 at Argus

Argus analyst Taylor Conrad lowered the firm’s price target on Advance Auto Parts to $185 from $220 but keeps a Buy rating on the shares. The company’s earnings have recovered from the impact of the pandemic, and both revenue and earnings are now in growth mode, the analyst tells investors in a research note. Conrad adds that while Advance Auto Parts faces inflationary and currency headwinds, the auto parts sector has historically outperformed in times of economic hardship.