Is Advance Auto Parts Turning The Corner? Analyst Predicts Slow Recovery And Market Share Losses
1. JPMorgan maintains a Neutral rating on AAP with a $41 price target. 2. AAP reported a Q4 EPS loss of $1.18, aligning with estimates. 3. Sales of $2 billion missed prior year, but exceeded analyst expectations. 4. Market share is decreasing; margins are projected below 1% for 2024. 5. AAP anticipates improvement in macro conditions in the second half.