Advance Auto Parts shares climbed nearly 8% after Northcoast Research analyst Aaron Reed raised his recommendation to Buy from Neutral and set a price target implying more than 20% upside. Reed cited management’s aggressive restructuring plan—closing over 700 underperforming stores and launching larger ‘market hub’ locations designed to boost same-day parts delivery to professional customers. He also pointed to the stock’s deep-value appeal, noting that at current valuation metrics the company trades at a discount to peers despite a comparable sales growth rate in line with industry averages.

Earlier in the week, AAP shares fell over 7% on renewed trade-war fears after U.S. policy discussions signaled potential import tariffs on key markets. The broad market sell-off pressured auto parts stocks, and TD Cowen’s Max Rakhlenko lowered his price target to reflect heightened macro uncertainty and a recent sector-wide pullback. Despite the decline, AAP reported 3% comparable same-store sales growth in its latest quarter and raised full-year earnings guidance, while management reiterated that aftermarket resilience in weaker economic environments should support performance if consumer spending softens.