Wells Fargo Maintains Equal-Weight Rating for Advance Auto Parts: Here's What You Need To Know

Wells Fargo has decided to maintain its Equal-Weight rating of Advance Auto Parts AAP and lower its price target from $70.00 to $60.00.

Shares of Advance Auto Parts are trading up 0.38% over the last 24 hours, at $56.34 per share.

A move to $60.00 would account for a 6.49% increase from the current share price.

About Advance Auto Parts

Advance Auto Parts is one of the industry's largest retailers of aftermarket automotive parts, tools, and accessories to do-it-yourself customers and third-party vehicle repair facilities in North America. Advance operated 5,086 stores as of the end of 2022, in addition to servicing 1,311 independently owned Carquest stores. The company's Worldpac chain is a premier distributor of imported original-equipment parts. Advance derived 59% of its 2022 sales from commercial clients, with the remainder from DIY shoppers.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.