Morgan Stanley analyst Simeon Gutman said he views Advance Auto Parts' (AAP) $200M acquisition of DieHard as "a modest positive" as the brand seems like a good fit and still has "powerful name recognition" with consumers despite its declining market share under Sears' ownership. However, his enthusiasm is tempered Advance Auto's mixed track record with partnerships, the fact that DieHard has been a declining brand and he view that the deal has to be evaluated against other potential uses of cash, such as share buybacks. Gutman, who believes the DieHard brand should boost traffic to Advance Auto stores in the way that the introduction of the previously Sears-owned Craftsman product helped traffic in Lowe's (LOW) stores in 2017, keeps an Overweight rating on Advance Auto with a $185 price target.