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.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AZO:
- AutoZone initiated with an Outperform at BMO Capital
- AutoZone price target raised to $3,450 from $3,400 at Evercore ISI
- 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