Goldman Sachs analyst Kate McShane lowered the firm’s price target on Advance Auto Parts to $83 from $90 and keeps a Neutral rating on the shares after its Q2 earnings miss and guidance cut. The company’s slightly better-than-expected sales were offset by lower profitability, and while there is now more clarity regarding Advance Auto Parts’ executive management with the appointment of a new CEO, visibility regarding its long-term strategy remains significantly limited, the analyst tells investors in a research note. The firm is also cutting its FY24 EPS view for the stock to $6.28 from $6.70 and its FY25 view to $6.87 from $7.17.
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