Advance Auto Parts resumed with a Market Perform at William Blair

William Blair resumed coverage of Advance Auto Parts with a Market Perform rating. While the firm is encouraged by the new management team’s efforts to streamline core operations and reduce costs, it says Advance Auto is in very early days of executing against its strategic review. The analyst expects there could be additional volatility around the restructuring and impending supply chain overhaul, with potential for elevated store closures as management prioritizes productivity gains.