Valvoline price target lowered to $35 from $38 at Citi

Citi lowered the firm’s price target on Valvoline to $35 from $38 and keeps a Neutral rating on the shares. Citi’s latest auto repair sentiment tracker revealed do-it-for-me business conditions are solid, but there is “easing optimism.” Most respondents cited business conditions are trending at or above plan, hiring activity is high, and auto parts inflation is a pricing tailwind, but all metrics slowed slightly versus the last survey, the analyst tells investors in a research note. The firm stills believe the sector is auto repair sector is “one of the best houses in the bad neighborhood of retail in the near-term.”