Morgan Stanley has decided to maintain its Equal-Weight rating of Advance Auto Parts AAP and lower its price target from $225.00 to $205.00.
Shares of Advance Auto Parts are trading down 0.07% over the last 24 hours, at $179.79 per share.
A move to $205.00 would account for a 14.02% increase from the current share price.
About Advance Auto Parts
Advance Auto Parts is one of the industry's largest retailers of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in North America. Advance operated 4,972 stores as of the end of 2021, in addition to servicing 1,317 independently owned Carquest stores. The company's Worldpac unit is a premier distributor of imported original-equipment parts. Advance derived 58% of its 2021 sales from commercial clients, up from 30%-40% before the General Parts deal.
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