Truist Is Bullish On This Automotive Aftermarket Parts Provider

by Shivani Kumaresan, Benzinga Staff Writer

January 13, 2022 1:28 PM | 27 seconds read |

Truist analyst Scot Ciccarelli initiated coverage of Advance Auto Parts Inc AAP with a Buy rating and $273 price target, suggesting a 12% upside.
Ciccarelli said the recent industry drivers, including more personal vehicle usage, suburban/rural migration, and elevated vehicle prices, will continue well into the foreseeable future.
Ciccarelli noted, after years of heavy investment, the company has finally laid the groundwork to capitalize on its "substantial margin expansion opportunity."
Price Action: AAP shares are trading higher by 2.21% at $242.78 on the last check Thursday.