Advance Auto Parts price target lowered to $54 from $66 at Barclays

Barclays lowered the firm’s price target on Advance Auto Parts (AAP) to $54 from $66 and keeps an Equal Weight rating on the shares as part of a 2025 outlook for the broadlines, hardlines and food retail sector. The firm is more positive on retail in 2025, although it is still not expecting “recovery” growth. Discretionary goods are exiting a period of negative demand and relative underperformance versus GDP, the analyst tells investors in a research note. Barclays believes the group is “past the worst” and should return to growth through this year, although it notes there are still cyclical and structural constraints.