Advance Auto Parts upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded Advance Auto Parts following the company's Q4 results on expectations better execution should drive a return to positive comps. The firm raised its price target for shares to $90 from $85.
Starboard expected to disclose 3.7% stake in Advance Auto Parts, WSJ reports Starboard Value is expected to announce that it has built up a 3.7% stake in Advance Auto Parts (AAP) at an investment conference in Toronto today, The Wall Street Journal reports. According to a presentation reviewed by the publication, Starboard has already met with Advance Auto's management and is urging the company to drive margins higher and improve operations. Starboard believes Advance Auto is lagging behind AutoZone (AZO) and O'Reilly Automotive (ORLY) in profit margins. Reference Link