AutoZone price target raised to $3,900 from $3,500 at Citi

Citi raised the firm’s price target on AutoZone (AZO) to $3,900 from $3,500 and keeps a Buy rating on the shares following the fiscal Q1 report. The firm recognizes the do-it-for-myself journey to accelerating growth “has been a test of patience for investors,” but says AutoZone has a plan to drive improvement and the industry should get lifts from improving low-income consumer health and increasing parts inflation.