Advance Auto Parts price target raised to $60 from $53 at Truist

Truist raised the firm’s price target on Advance Auto Parts to $60 from $53 but keeps a Hold rating on the shares after its Q4 results and guiance. The new management team is moving fast to improve execution, but 4-5 “new management teams” failed to improve the business over the last 20 years, so the hurdles “will be high”, the analyst tells investors in a research note. The firm adds that it remains bullish on the auto parts retail industry, but Advance still hasn’t been able to show the improvement in growth and consistency that many investors expected.