UPDATE: Truist Securities Starts Advance Auto Parts (AAP) at Buy

January 12, 2022 4:08 PM EST
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Price: $177.45 +2.52%

Rating Summary:
    20 Buy, 17 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 4 | Down: 12 | New: 10
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(Updated - January 13, 2022 4:09 AM EST)

Truist Securities analyst Scot Ciccarelli initiates coverage on Advance Auto Parts (NYSE: AAP) with a Buy rating and a price target of $273.00.

The analyst comments "We believe the pandemic has caused people to use (and fix/maintain) their existing vehicles more as they avoid public transportation, while more consumers need vehicles due to migration to suburban/rural areas from urban environments. In addition, elevated vehicle prices have caused consumers to maintain/repair their existing vehicles rather than purchasing something different. We think that these trends will continue into the foreseeable future."

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 $232.01 yesterday.

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