Advance Auto Parts Is About to Hit an Inflection Point, Barclays Says
Barclays upped its rating for Advance Auto Parts stock.
Barclays analyst Matt McClinctock raised Advance Auto Part (AAP) - Get Report to "equal weight" from "underweight" with a new price target of $90 per share.
McClintock said he sees an inflection point ahead for the auto parts retailer and is encouraged by the efforts of management to improve the company's working capital. Advance Auto Part's capital expenditures system will drive increased sales while providing critical insight for supply chain enhancements, the analyst wrote.
Advance Auto Parts stock opened up 1.3% to $94.50 Monday morning. Shares are down 44% year-to-date.
More of What's Trending on TheStreet:
- Amazon's Instant Pickup Service Shows Clearly Who Jeff Bezos Is Targeting Next
- Why the World Isn't Ending: Market Recon
- How You Can Make Easy Money on Apple's iPhone 8 Juggernaut
- Today's Solar Eclipse Could Cost Companies a Mind-Blowing $694 Million
Loading ...