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Fly News Breaks for May 20, 2016
AAP
May 20, 2016 | 07:47 EDT
After Advance Auto Parts reported Q1 results that RBC Capital views as "soft" and provided significantly lower than expected 2016 comp guidance, RBC Capital says that weather "has been a huge challenge" for the company. The firm expects the company's results to improve when the weather changes. Moreover, it thinks the company's new CEO can meaningfully improve the company's execution over time. RBC cut its price target on the name to $157 from $170 but keeps an Outperform rating on the shares.
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