UPDATE: Morgan Stanley Reiterates On Advance Auto Parts On Attractive Risk/Reward

In a report published Monday, Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating on

, and raised the price target from $150.00 to $170.00. In the report, Morgan Stanley noted, “Risk/reward attractive as we expect greater cost and revenue synergies. Execution missteps represent downside risk, but sound integration plan, along with stable business/industry backdrop limit potential fallout. AAP remains one of our favorite stocks.” Advance Auto Parts closed on Friday at $144.81.