Advance Auto Parts price target raised to $135 from $120 at RW Baird Baird raised its price target on Advance Auto Parts following solid Q4 results citing signs the integration with Genuine Auto Parts I on track. The firm also sees the harsh weather driving traffic setting up a decent Q1. The firm maintains its Outperform rating but no longer considers it a top idea.
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