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Advance Auto Parts upgraded to Equal Weight from Underweight at Barclays
The Fly

Advance Auto Parts upgraded to Equal Weight from Underweight at Barclays

Barclays analyst Seth Sigman upgraded Advance Auto Parts to Equal Weight from Underweight with a price target of $129, down from $140. The analyst cites valuation for the upgrade following the stock’s significant pullback year-to-date. Advance Auto ‘s risk/reward now skews more balanced, the analyst tells investors in a research note. However, the firm remains cautious on the company’s fundamentals, including its continued sales underperformance and "structural limitations."

Published first on TheFly

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