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