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Fly News Breaks for February 20, 2019
Feb 20, 2019 | 08:42 EDT
Jefferies analyst Bret Jordan lowered his price target for Advance Auto Parts to $195 following the company's Q4 results and keeps a Buy rating on the shares. The fiscal 2019 comp guidance of up 1.0% to 2.5% appears conservative, as inflation alone should generate greater than 1% sales growth while Advance Auto also expects to gain share, Jordan tells investors in a post-earnings research note. While fiscal 2019 will see "significant" technology investment, the analyst expects accelerating margin gains in fiscal 2020. Jordan keeps a Buy rating on the shares.
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