| Advance Auto Parts "overweight," target price raised NEW YORK, April 26 (newratings.com) - Analyst John F Tomlinson of Prudential Financial reiterates his "overweight" rating on Advance Auto Parts (AAP.NYS), while raising his estimates for the company. The target price has been raised from $55 to $58. In a research note published yesterday, the analyst mentions that a government survey indicated that auto retailers witnessed robust sales during 1Q05, despite increasing gas prices. According to channel checks and a public auto retailers/distributors survey, auto parts retailer comps were healthy during the quarter, the analyst says. Advance Auto Parts is likely to have continued to gain market share during the quarter, Prudential Financial adds. The EPS estimate for 2005 has been raised from $3.08 to $3.11. |