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Fly News Breaks for August 16, 2017
AAP
Aug 16, 2017 | 08:39 EDT
Deutsche Bank analyst Mike Baker lowered his price target to $101 from $139 following the Q2 results but is sticking with his Buy rating on Advance Auto Parts. First and most importantly, the company seems to be stabilizing its market share, the first step in any turnaround, Baker tells investors in a post-earnings research note. He also believes downward earnings revisions should be behind the company and that the current share price assumes little margin recovery.
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