Advance Auto Parts price target raised to $59 from $50 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Advance Auto Parts (AAP) to $59 from $50 and keeps a Hold rating on the shares after its Q3 earnings beat. The company benefited from tariff-driven same-SKU inflation, and while early Q4 trends have been soft, particularly in DIY as consumers continue to face pressure from rising prices across the board, govt shutdown, the auto parts remain one of the best positioned verticals to navigate today’s macro environment, the analyst tells investors in a research note.