Advance Auto Parts Jumps After Turnaround Plan Accelerates
- Analysts at Raymond James and Susquehanna upgrade stock
- Rally helps boost shares of other auto-part retailers
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Advance Auto Parts Inc. jumped the most in more than three years after third-quarter earnings beat estimates, signaling that the retailer’s comeback plan is gaining momentum.
Earnings were $1.73 a share in the period, excluding some items, the Roanoke, Virginia-based chain said on Monday. Analysts had estimated $1.72 for the company, which operates more than 5,000 stores.