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Fly News Breaks for August 16, 2017
AAP
Aug 16, 2017 | 07:28 EDT
JPMorgan analyst Christopher Horvers lowered his price target for Advance Auto Parts to $106 following the company's Q2 results. The analyst expects the inventory cost pressures to continue until inventory per store stabilizes, which he doesn't see until 2019. Horvers believes he and management underappreciated how much investment in the turnaround. He keeps an Overweight rating on Advance Auto.