Advance Auto Parts (AAP) Receives a Buy from Guggenheim


Guggenheim analyst Ali Faghri reiterated a Buy rating on Advance Auto Parts (AAP) on November 15 and set a price target of $197. The company’s shares opened today at $179.15, close to its 52-week high of $186.15.

According to TipRanks.com, Faghri is a 4-star analyst with an average return of 8.5% and a 62.9% success rate. Faghri covers the Services sector, focusing on stocks such as Penske Automotive Group, Lithia Motors, and Copart.

Currently, the analyst consensus on Advance Auto Parts is a Moderate Buy with an average price target of $196.64, a 9.8% upside from current levels. In a report issued on November 6, Morgan Stanley also maintained a Buy rating on the stock with a $205 price target.

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Based on Advance Auto Parts’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $116 million. In comparison, last year the company had a net profit of $96 million.

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Advance Auto Parts, Inc. engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.

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