AutoZone price target raised to $3,800 from $3,450 at TD Cowen

TD Cowen raised the firm’s price target on AutoZone (AZO) to $3,800 from $3,450 and keeps a Buy rating on the shares. The firm expects the company’s do-it-for-me compares to reaccelerate over the coming quarters driven by a pick-up in mega-hub openings and delivery speed initiatives. More favorable weather and AutoZone exiting five West Coast markets will be a tailwind which should help offset a softer macro environment, while the company’s long-term outlook remains favorable, the analyst tells investors in a research note.