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.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

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.

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Posted In: Analyst RatingsBZI-AAR-UPDATE
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