Advance Auto Parts (AAP) PT Raised to $65 at BMO Capital

BMO Capital analyst Tristan Thomas-Martin raised the price target on Advance Auto Parts (NYSE: AAP) to $65.00 (from $60.00) while maintaining a Market Perform rating.

The analyst commented: "SSS Momentum and Internal Improvements Build in 1Q26; AAP shares jumped 14% on the day, behind better-than-expected 1Q26 results, particularly SSS of +3.5% vs. the Street’s +1.9%; but we note investor expectations have been moving higher since ORLY’s SSS print (+8.1%). AAP posted SSS growth above same-SKU inflation (+3%) and is continuing to make good progress on internal initiatives. Despite the beat, 2026 guidance was maintained with management citing potential near-term demand variability given elevated gas prices, and we suspect some conservatism. We are maintaining our Mkt rating but raising our estimates and target price."

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