Advance Auto Parts added to Best Ideas List at Wedbush Wedbush added Advance Auto Parts to its Best Ideas List as the firm continues to believe that the company's acquisition of General Parts International will generate significantly greater synergies than expected. The firm also thinks the company could benefit from a hotter than normal summer, while its core business could be poised to rebound. The firm keeps a $150 price target and Outperform rating on the shares.
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