Advance Auto Parts (AAP) NewsBite - UBS Starts AAP At Buy

Posted: Tuesday, November 03, 2009 2:02 PM EDT

Advance Auto Parts (NYSE: AAP) opened at $36.63. So far today, the stock has hit a low of $36.63 and a high of $38.10. AAP is now trading at $38.09, up $1.22 (3.31%). Over the last 52 weeks the stock has ranged from a low of $24.03 to a high of $47.41. Analysts at UBS initiated AAP at Buy this morning, giving the stock a $48 price target. Technical indicators for the stock are bullish and S&P gives AAP a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on AAP the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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