Goldman Sachs analyst Kate McShane upgraded AutoZone (AZO) to Neutral from Sell with a price target of $3,811, up from $3,044. The firm cites the attractiveness of the company’s “defensive business” in the current macro environment for the upgrade. The trajectory of AutoZone’s “do it for me” business appears to be improving, do-it-yourself trends have also recovered, and the auto parts industry’s strong pricing power should help mitigate any potential tariff impacts, the analyst tells investors in a research note.
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