Advance Auto Parts
is climbing on Tuesday, thanks to an upgrade. JPMorgan argues that the auto-parts retailer is a buy for a very relatable reason: 2021 has to look better than this year.
Analyst Christopher Horvers upgraded Advance Auto Parts stock (ticker: AAP) to Overweight from Neutral, and lifted his price target to $190 from $183. He writes that Covid-19 adversely affected Advance Auto than
(ORLY), given its concentration of stores in hard-hit areas in the Northeast, with comparable sales trailing those of peers in the spring months. Therefore, it may bounce back more easily as the threat of the pandemic starts to recede.
Of course, we’re not quite there yet, and many people are still working from