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Bear of the Day: Advance Auto Parts (AAP)
by Zacks Equity ResearchNovember 23, 2012 | Comments : 0 Recommended this article: (0)
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The company's profits fell 14.2% to $1.21 per share in the third quarter of the year due to weak sales in the cold weather markets; however, it was in line with the Zacks Consensus Estimate. The company also lowered its earnings outlook for 2012 due to the short-term softness in sales.
Our long-term Underperform recommendation on the stock indicates that it will perform below the broader market. Our $71.00 target price, 13.9X our 2012 EPS estimate, reflects this view.
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