Guggenheim lowered the firm’s price target on AutoZone (AZO) to $4,400 from $4,600 and keeps a Buy rating on the shares. Although AutoZone will be carrying a 200 basis point “growth” headwind to EBIT margin as the company leans into new store growth and store density, the firm expects this investment lean to drive accelerated, structural do-it-for-me market share gains and expects improved valuation support to more than offset the “modest revision to our near-term EPS estimates,” the analyst tells investors.
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Read More on AZO:
- AutoZone price target lowered to $4,400 from $4,600 at BMO Capital
- AutoZone price target lowered to $4,325 from $4,800 at UBS
- AutoZone price target lowered to $4,500 from $4,700 at Wells Fargo
- AutoZone price target lowered to $4,318 from $4,510 at Barclays
- AutoZone’s Strategic Growth and Resilience Justify Buy Rating Amid Robust Performance