Morgan Stanley analyst Simeon Gutman called Advance Auto Parts' 2019 guidance for 1%-2.5% comp growth and 20-60 bps of EBIT margin expansion "decent," but believes it will be disappointing for bulls. However, he thinks there could be margin upside in 2019 given that he believes comp guidance is likely conservative, top-line initiatives should result in market share gains and he sees sales upside flowing through to the bottom line. Gutman, who thinks the stock is pricing in 2.5% comps and 50 bps of annual EBIT margin expansion over the next three years, keeps an Overweight rating and $205 price target on Advance Auto Parts shares.