Advance Auto Parts (AAP) PT Raised to $155 at Argus

Argus raised its price target on Advance Auto Parts (NYSE: AAP) to $155.00 (from $135.00) while maintaining a Buy rating.

Analyst Chris Graja is raising 2019 EPS estimate to $7.90 from $7.50. They are now modeling an 80-basis-point improvement in the operating margin, to 8.6%, up from their previous forecast of a 40-basis-point gain, reflecting the company’s efforts to reduce costs, improve inventory management, and strengthen customer service.

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