Monro price target raised to $30 from $26 at Wells Fargo

Wells Fargo raised the firm’s price target on Monro to $30 from $26 and keeps an Equal Weight rating on the shares. The firm notes Q3 expectations were low and while the comp shortfall is disappointing, weather-driven acceleration in the second half of January and better-than-expected gross margins are driving shares higher. That said, share losses and macro-driven headwinds keep Wells sidelined.