Morgan Stanley raised the firm’s price target on AutoZone (AZO) to $4,000 from $3,750 and keeps an Overweight rating on the shares. Benefits from AutoZone’s growth initiatives are unfolding and the company is gaining share in both its DIY and Commercial businesses, as evidenced by the fiscal Q3 domestic comp growth of 5% and domestic DIY comp growth of 3%, the analyst tells investors in a post-earnings note.
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Read More on AZO:
- AutoZone price target raised to $4,200 from $4,000 at Raymond James
- AutoZone price target raised to $4,100 from $3,850 at Guggenheim
- AutoZone price target lowered to $4,200 from $4,350 at JPMorgan
- AutoZone’s Strong Market Position and Strategic Investments Justify Buy Rating
- AutoZone Reports Mixed Q3 Results Amid Growth