These Analysts Increase Their Forecasts On Advance Auto Parts Following Upbeat Q2 Earnings

Core Insights - Advance Auto Parts Inc. reported better-than-expected earnings for Q2, with adjusted EPS of 69 cents, surpassing the consensus estimate of 57 cents [1] - The company's quarterly sales reached $2.01 billion, exceeding the expected $1.978 billion, while comparable store sales increased by 0.1% [1] Financial Guidance - The company revised its FY25 adjusted EPS outlook to a range of $1.20–$2.20 from a previous range of $1.50–$2.50, compared to the consensus estimate of $1.80 [2] - Advance Auto Parts reaffirmed its FY25 sales guidance of $8.40 billion to $8.60 billion, slightly below the estimate of $8.522 billion [2] Market Reaction - Following the earnings announcement, Advance Auto Parts shares rose by 2.5%, trading at $58.28 [3] - Analysts adjusted their price targets for Advance Auto Parts, reflecting a positive outlook post-earnings [3] Analyst Ratings - Truist Securities maintained a Hold rating and raised the price target from $51 to $53 [8] - Morgan Stanley maintained an Equal-Weight rating and increased the price target from $48 to $55 [8] - Wells Fargo also maintained an Equal-Weight rating, boosting the price target from $45 to $50 [8]