TD Cowen raised the firm’s price target on AutoZone (AZO) to $3,900 from $3,800 and keeps a Buy rating on the shares. The firm said they are focused on the strong DIFM acceleration which they think continues as initiatives ramp and share opportunity improves. SG&A was higher than expected and investments are poised to persist in the near-term, but they think the strategy is reasonable as it will strengthen its position and accelerate share growth.
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- AutoZone price target raised to $3,841 from $3,753 at Truist
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- AutoZone price target raised to $4,000 from $3,850 at Raymond James
- AutoZone downgraded to Hold from Buy at Argus
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