Wedbush lowered the firm’s price target on Advance Auto Parts to $60 from $80 and keeps a Neutral rating on the shares. The firm notes the company reported Q3 results that slightly beat expectations on the top line but sharply missed on the bottom line while also reducing FY23 guidance and outlining a go-forward action plan under new CEO Shane O’Kelly.
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Read More on AAP:
- Advance Auto Parts’ (NYSE:AAP) Q3 Results Draw Mixed Analyst Reactions
- Advance Auto Parts price target lowered to $55 from $78 at JPMorgan
- Advance Auto Parts price target raised to $60 from $53 at Citi
- Advance Auto Parts cut to Underperform at BofA on disappointing Q3, FCF pressure
- Advance Auto Parts downgraded to Underperform from Neutral at BofA