UPDATE: RBC Capital Starts Advance Auto Parts (AAP) at Sector Perform

Get Alerts AAP Hot Sheet
Rating Summary:
20 Buy, 17 Hold, 2 Sell
Rating Trend:

Today's Overall Ratings:
Up: 8 | Down: 12 | New: 20
Join SI Premium – FREE
RBC Capital analyst Steven Shemesh initiates coverage on Advance Auto Parts (NYSE: AAP) with a Sector Perform rating and a price target of $239.00.
The analyst comments "Barring any material changes to the U.S. auto part landscape, we believe AAP's margin progress will be the primary driver of share performance over the next 12 months. While we think it's clear that margin upside exists, we suspect over-delivery (relative to cons.) may be difficult in the current cost environment. We are initiating on AAP with a Sector Perform rating and $239 price target based on a 16x multiple applied to our FY'23 EPS estimate of $14.95."
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 $225.12 yesterday.
You May Also Be Interested In
- UPDATE: MKM Partners Starts Advance Auto Parts (AAP) at Buy
- EasyJet Plc. (EZJ:LN) (ESYJY) PT Lowered to GBP7.10 at Goldman Sachs
- Symrise AG (SY1:GR) (SYIEY) PT Raised to EUR129 at Goldman Sachs
Create E-mail Alert Related Categories
Analyst Comments, New CoverageRelated Entities
RBC CapitalSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!