Advance Auto Parts (AAP)
by Zacks Equity ResearchSeptember 14, 2012 | Comments : 0 Recommended this article: (0)
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The company's revenues also dipped marginally by 1.3% due to lower store sales and lagged the Zacks Consensus Estimate of $1.48 billion. These factors have led us to downgrade our recommendation on the stock from Neutral to Underperform and set a target price of $64.00.
The stock is trading at a discount to the peer group, based on forward earnings estimates. The current P/E, which is close to the lower-end of the historical range, is at a 14% discount to the peer group for 2012.
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