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Fly News Breaks for January 7, 2019
ORLY, AAP
Jan 7, 2019 | 07:30 EDT
Barclays analyst Matthew McClintock upgraded Advance Auto Parts to Overweight and raised his price target for the shares to $205 from $170. The analyst now feels confident that a "stable base for operations has been established." This provides management with the ability to shift the focus towards "ample opportunities for value creation," McClintock tells investors in a research note. He points out that Q3 was Advance Auto's best comp since 2010 and the first time the company out-comped industry leader O'Reilly Automotive (ORLY) since Q1 of 2010.