Deutsche Bank Starts Advance Auto Parts (AAP) at Buy; "Discount Auto Parts"

Deutsche Bank initiates coverage on Advance Auto Parts (NYSE: AAP) with a Buy. PT $80.00.

Deutsche analyst says, "Our positive view is based on favorable industry trends, company specific market share drivers in the commercial segment and operational improvements, and a strong balance sheet. We believe these factors should drive better than expected EPS and an above average growth rate that is not captured in AAP’s current valuation. Our long term earnings power estimate is $8.50 per share."

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 $69.63 yesterday, with a 52 week range of $49.50-$72.32.

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