Evercore ISI Group Maintains In-Line on Advance Auto Parts, Lowers Price Target to $78
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group analyst Greg Melich maintains an In-Line rating on Advance Auto Parts (NYSE:AAP) and lowers the price target from $82 to $78.

April 16, 2024 | 2:36 pm
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Advance Auto Parts' price target was lowered from $82 to $78 by Evercore ISI Group, while maintaining an In-Line rating.
A reduction in the price target by an analyst, especially from a reputable firm like Evercore ISI Group, can lead to a negative short-term impact on the stock price as it may adjust to reflect the new target. The maintenance of an In-Line rating suggests that the analyst sees the stock performing on par with the market or sector, which does not add positive momentum to counterbalance the lowered target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100