Raymond James raised the firm’s price target on AutoZone (AZO) to $4,000 from $3,850 and keeps a Strong Buy rating on the shares. Following the Q2 results, Raymond James remains encouraged by AutoZone’s strong commercial momentum, resilient gross margins, and long-term growth drivers, telling investors in a research note that while DIY traffic remains pressured by discretionary softness, deferrals in maintenance spending are not sustainable, and AutoZone remains well-positioned for a rebound as macro conditions improve.
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Read More on AZO:
- AutoZone downgraded to Hold from Buy at Argus
- AutoZone price target raised to $3,850 from $3,750 at Wells Fargo
- AutoZone price target raised to $3,750 from $3,490 at Morgan Stanley
- AutoZone’s Strategic Growth and Market Leadership Justify Buy Rating Despite Short-Term Challenges
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