As previously reported, Argus analyst Bill Selesky upgraded AutoZone (AZO) to Buy from Hold with a $4,325 price target The rating change is driven by the firm’s expectation of year-over-year profit growth turning positive for AutoZone, starting with Q3, after the prior two quarters had exhibited negative earnings growth, the analyst tells investors in a research note. Argus believes that AutoZone is “nearing an inflection point” in share price.
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