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.
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