As previously reported, BofA/Merrill downgraded Advance Auto Parts to Underperform from Neutral and cut its price target to $90 from $150. Analyst Denise Chai said the auto parts retail sector is being pressured by modest growth in miles driven, weakness in SAAR and used car pricing, and negative sentiment from Amazon competition, resulting in a reduction in her growth assumptions. The analyst sees a potential turnaround for Advance Auto under CEO Tom Greco but believes it will be more difficult than the market expects and expects comp growth and EBIT margin expansion targets will be difficult to achieve.