Barclays Raises PT and Estimates on Advance Auto Parts (AAP); Current Gas Prices Still Support Growth, But What About $5+/Gallon?
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Price: $84.08 -2%
Rating Summary:
2 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
2 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade AAP Now!
Barclays maintains an 'Equalweight' on Advance Auto Parts (NYSE: AAP) price target raised from $90 to $95.
Analkyst, Alan M. Rifkin, said, "We are raising our estimates and price target on AAP based on positive weather trends, strong company execution on both the commercial and DIY side and continued industry strength. Our new 1Q EPS estimate of $1.85, now $0.10 above the Street, is based on 5% comps, up from 2.5% prior." (FY12 EPS estimate raised from $5.80 to $6.05 and FY13 from $6.65 to $6.90)
Rufkin also noted that if U.S. gas prices move up to $5/gallon, there could be negative affects on the entire industry, but currently, prices still support continued growth.
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 $88.50 yesterday, with a 52 week range of $49.50-$89.50.
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Analkyst, Alan M. Rifkin, said, "We are raising our estimates and price target on AAP based on positive weather trends, strong company execution on both the commercial and DIY side and continued industry strength. Our new 1Q EPS estimate of $1.85, now $0.10 above the Street, is based on 5% comps, up from 2.5% prior." (FY12 EPS estimate raised from $5.80 to $6.05 and FY13 from $6.65 to $6.90)
Rufkin also noted that if U.S. gas prices move up to $5/gallon, there could be negative affects on the entire industry, but currently, prices still support continued growth.
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 $88.50 yesterday, with a 52 week range of $49.50-$89.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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