JP Morgan Maintains Neutral on Advance Auto Parts, Lowers Price Target to $55
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Christopher Horvers has maintained a Neutral rating on Advance Auto Parts (NYSE:AAP) but has lowered the price target from $78 to $55.
November 16, 2023 | 3:05 pm
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NEGATIVE IMPACT
JP Morgan has maintained a Neutral rating on Advance Auto Parts and reduced the price target from $78 to $55, indicating a potential downside compared to the previous target.
The reduction in price target by a major analyst like JP Morgan suggests a bearish outlook on the stock's value, which could lead to a negative short-term impact on the stock price as market participants adjust their expectations.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100