Roth Capital analyst Scott Stember lowered the firm’s price target on AutoZone (AZO) to $4,650 from $4,750 but keeps a Buy rating on the shares. The company reported “mixed” Q1 results with higher than expected sales but lower earnings, the analyst tells investors in a research note. The steady automotive aftermarket and ongoing share gains in DIFM/Professional, aided by store expansion, will serve the company well, and the firm believes the stock price decline is a “chance to buy”, Roth Capital added.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AZO:
- AutoZone price target lowered to $3,850 from $4,050 at Mizuho
- AutoZone price target lowered to $4,400 from $4,600 at Guggenheim
- 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