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

Morgan Stanley has decided to maintain its Equal-Weight rating of Advance Auto Parts AAP and lower its price target from $225.00 to $205.00.

Shares of Advance Auto Parts are trading down 0.07% over the last 24 hours, at $179.79 per share.

A move to $205.00 would account for a 14.02% 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 in North America. Advance operated 4,972 stores as of the end of 2021, in addition to servicing 1,317 independently owned Carquest stores. The company's Worldpac unit is a premier distributor of imported original-equipment parts. Advance derived 58% of its 2021 sales from commercial clients, up from 30%-40% before the General Parts deal.

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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