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Fly News Breaks for April 17, 2018
AAP
Apr 17, 2018 | 08:19 EDT
Guggenheim analyst Ali Faghri assumed coverage on Advance Auto Parts with a Buy rating, from Neutral, and a $131 price target. Faghri believes operating profits are moving higher citing conservative 2018 guidance, better cost visibility, and an improving industry backdrop in the company's Northeast weighted footprint. The analyst sees a significant margin expansion opportunity and working capital improvements, leading to an eventual return on capital to shareholders through buybacks.
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