JPMorgan Chase Lowers Price Target for Advance Auto Parts to $55.00

JPMorgan Chase & Co. has reduced its price target for Advance Auto Parts (NYSE:AAP) to $55.00, down from $65.00. This change reflects a potential upside of 30.58% from the company's previous close.

The firm maintains a 'neutral' rating on the stock. Several other brokerages have recently issued reports on AAP. Weiss Ratings upgraded shares of Advance Auto Parts from a 'sell (d+)' rating to a 'hold (c-)' rating in a research report.

Other analysts, including TD Cowen and Royal Bank Of Canada, have also reduced their price targets for the company. TD Cowen set its target at $45.00, while Royal Bank Of Canada set its target at $52.00.