Advance Auto Parts (AAP) PT Lifted to $160 at Jefferies

November 15, 2016 7:48 AM EST
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Price: $174.79 --0%

Rating Summary:
    15 Buy, 15 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies analyst Bret Jordan raised his price target on Hold-rated Advance Auto Parts (NYSE: AAP) to $160.00 (from $150.00) following solid results.

Jordan commented, "AAP reported a Q3 beat, with comp and adj. EPS of -1.0% and $1.73 vs. our est. (-4.0% and $1.68) and consensus (-3.5% and $1.71). Notably, '17 guide for "positive" comp and EBIT margin vs. '16 was better than feared, while "at least 500 bps" of margin expansion (+MSD comp) by '21 fuels long term optimism. We raise our PT to $160 from $150 given expectation for comp and margin improvement in '17 and emerging visibility into AAP's long term strategic plan."

The firm raised FY 2016 EPS from $7.22 to $7.28.

For an analyst ratings summary and ratings history on Advance Auto Parts click here. For more ratings news on Advance Auto Parts click here.

Shares of Advance Auto Parts closed at $142.90 yesterday.

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