Advanced Auto Parts shares are trading lower after Atlantic Equities downgraded the stock from Neutral to Underweight and lowered its price target from $130 to $50.
Portfolio Pulse from Benzinga Newsdesk
Advanced Auto Parts (AAP) shares are trading lower after Atlantic Equities downgraded the stock from Neutral to Underweight and lowered its price target from $130 to $50.
July 10, 2023 | 1:31 pm
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NEGATIVE IMPACT
Advanced Auto Parts' stock has been downgraded by Atlantic Equities from Neutral to Underweight, with a significant reduction in price target from $130 to $50.
The downgrade by Atlantic Equities is a negative signal for Advanced Auto Parts. The significant reduction in price target suggests that the analyst sees a substantial downside risk for the stock, which is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100