Wedbush analyst Seth Basham raised the firm’s price target on AutoZone to $2,600 from $2,350 and keeps an Outperform rating on the shares. The analyst remains constructive on AutoZone into Q1 earnings on Tuesday, December 6. He expects a modest sales and earnings beat, and sees potential for a positive update on LIFO charges. However, Basham also sees a slower end to the quarter and slower start to Q2 possibly due to mild pre-winter east coast weather, and expects questions around AAP’s planned increases in inventory and investments in price.
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