Information Provided By:
Fly News Breaks for August 14, 2019
Aug 14, 2019 | 07:11 EDT
Guggenheim analyst Ali Faghri downgraded Advance Auto Parts to Neutral from Buy without a price target. Following the company's weaker than expected Q2 results the analyst sees risk to its fiscal 2019 guidance. The implied second half same-store-sales and margin guidance suggests a "meaningful improvement" against a backdrop of tougher compares, Faghri tells investors in a research note. Further, the analyst believes Advance Auto's Q2 headwinds are poised to continue in coming quarters. The stock offers limited multiple expansion potential in the near term given the downside risk to second half estimates, says Faghri.
News For AAP From the Last 2 Days
Sep 13, 2019 | 10:03 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Kemet (KEM) upgraded to Buy from Hold at Stifel with analyst Matthew Sheerin stating that while the company is facing headwinds similar to competitors amid weakening demand and an inventory correction, its fundamentals have held up significantly better than comps due primarily to its product portfolio. 2. Advance Auto Parts (AAP) upgraded to Buy from Neutral at Citi with analyst Gregory Badishkanian saying same-store sales momentum, assortment optimization and omni-channel initiatives should drive sales growth. 3. M.D.C. Holdings (MDC) upgraded to Strong Buy from Outperform at Raymond James with analyst Buck Horne noting the company's released preliminary Q3 net order activity through July and August is tracking "dramatically ahead" of his prior expectations. 4. Etsy (ETSY) upgraded to Outperform from Neutral at Wedbush with analyst Ygal Arounian telling investors he now sees a critical mass of new initiatives, highlighted by Etsy Ads and free shipping, that can drive stronger GMS growth and margin expansion over time. 5. Acadia (ACAD) upgraded to Outperform from Market Perform at SVB Leerink with analyst Marc Goodman citing the recently announced results from the Phase 3 HARMONY study in Dementia Related Psychosis. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.