Evercore ISI analyst Greg Melich raised the firm’s price target on AutoZone (AZO) to $3,450 from $3,400 and keeps an Outperform rating on the shares. Fiscal Q1 results show AutoZone is managing a volatile backdrop while also reinvesting in store labor, mega hubs, and faster delivery to “widen the competitive moat,” the analyst tells investors in a post-earnings note.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AZO:
- AutoZone price target raised to $3,750 from $3,350 at Guggenheim
- AutoZone price target raised to $3,753 from $3,501 at Truist
- AutoZone price target raised to $3,875 from $3,500 at UBS
- AutoZone price target raised to $3,900 from $3,500 at Citi
- AutoZone price target raised to $3,750 from $3,450 at Wells Fargo