Advance Auto Parts estimates raised ahead of tomorrow's report at Credit Suisse Credit Suisse raised Advance Auto Parts 2015 and 2016 estimates and price target ahead of tomorrow's Q1 report. The firm's checks indicate solid execution, the beginning of integration and the rolling out of WORLDPAC products in stores. Share are Outperform rated with a $150 price target, up from $133.
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