UBS analyst Michael Lasser raised his price target on Advance Auto Parts to $160 from $130. The analyst believes optimizing its distribution network is a significant portion of the $750M in gross savings it expects to achieve over the next three years. He believes it will pave the way to unlock more substantial savings in 2019 and beyond. Lasser reiterated his Buy rating on Advance Auto Parts shares.
Notable gainers among liquid option names this morning include Advance Auto Parts (AAP) $181.43 +14.41, Southwestern Energy (SWN) $6.17 +0.37, EQT Corporation (EQT) $19.87 +1.05, Cabot Oil & Gas (COG) $26.46 +1.06, and NVIDIA (NVDA) $196.19 +6.75.
UP AFTER EARNINGS: Advanced Auto Parts (AAP), up 6%... Home Depot (HD), up 1%... YY (YY), up 2%... Huya (HUYA), up 7%. ALSO HIGHER: Viking Therapeutics (VKTX), up 15% after VK2809 study achieves primary, secondary endpoints... Chesapeake (CHK), up 2% after Citi analyst Robert Morris upgraded the stock to Neutral and raised his price target for the shares to $4.50 from $3.50. DOWN AFTER EARNINGS: Tyson Foods (TSN), down 4%. ALSO LOWER: PG&E (PCG), down 2% after California regulators said to launch an investigation into the company after reporting that its electrical infrastructure suffered malfunctions near ground zero of two deadly fires... Parateum (TEUM), down 5% after acquiring iPass (IPAS) in all-stock transaction.