AutoZone price target lowered to $4,318 from $4,510 at Barclays

Barclays lowered the firm’s price target on AutoZone (AZO) to $4,318 from $4,510 and keeps an Overweight rating on the shares. The firm sees “some brights” in company’s fiscal Q1 report, but says they are masked by higher spending, which is limiting the earnings upside “during the best of times while feeding into the concerns about what happens following this inflation cycle.”