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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