Advance Auto Parts strategy promising but unproven, stock rated Market Perform By Investing.com
On Friday, BMO Capital Markets began coverage of Advance Auto Parts (NYSE:), traded on the New York Stock Exchange under the ticker NYSE:AAP, assigning a “Market Perform” rating and establishing a price target of $45.00 for the company’s shares. The firm provided an outlook on the automotive parts retailer, acknowledging the company’s current position and future prospects.
The report highlighted that Advance Auto Parts is at an early stage of a turnaround effort. BMO Capital Markets noted that the company’s strategic plan appears sound and management has been adhering to it. However, the firm adopted a cautious stance, opting to wait for demonstrable improvements in operating performance before altering its position on the…
