Advance Auto Parts price target lowered to $65 from $67 at Truist

Truist lowered the firm’s price target on Advance Auto Parts to $65 from $67 and keeps a Hold rating on the shares after its Q2 earnings miss. Investors may be intrigued by the new management and potential asset sales, but the disposition of Worldpac will only make the company’s core look worse, the analyst tells investors in a research note. In the near-term, the gross margins at Advance Auto Parts have been set lower and the company’s balance sheet looks strained, the firm added.