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Why Advance Auto Parts Stock Slumped Today

TheMotleyFool

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Why Advance Auto Parts Stock Slumped TodayPhoto, wide shot, wide-angle lens, Home appliance manufacturer, neutral atmosphere, photo by Joe Cornish: https://img.theapi.app/temp/fb3845ac-e3c6-43ef-86c1-b57ed8c272c4.png

Auto parts retailer Advance Auto Parts (NYSE: AAP) stock tumbled 6.7% through 11:55 a.m. ET Tuesday after Wall Street banker Evercore ISI cut its price target to $58 per share.

Evercore can't be blamed for the entirety of Advance Auto's losses today, however. I actually suspect investors are punishing the stock more for what its rival, AutoZone (NYSE: AZO), said this morning.

Image source: Getty Images.

Source Fool.com

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