Barclays analyst Matt McClinctock raised Advance Auto Part (AAP) - Get Advance Auto Parts, Inc. 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.

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