AutoZone price target raised to $3,600 from $3,500 at BofA

BofA raised the firm’s price target on AutoZone (AZO) to $3,600 from $3,500 and keeps a Neutral rating on the shares after the company reported quarterly results. The firm said its Neutral rating reflects its confidence in AutoZone’s continued tailwinds from maturing commercial programs, share gain opportunities, and successful roll-out of hubs and mega hubs, offset by an outlook for continued industry weakness. BofA noted that it raised its price target based on 20x FY26 earnings per share due to peer group multiple expansion.