AutoZone price target raised to $4,090 from $3,894 at Goldman Sachs

Goldman Sachs raised the firm’s price target on AutoZone (AZO) to $4,090 from $3,894 but keeps a Neutral rating on the shares. The company’s Q4 earnings miss was driven by lower-than-expected margins, and although the majority of the margin pressure was due to non-cash LIFO headwinds that are expected to reverse over time, SG&A expenses also came in higher than expected, and margins appear set to remain pressured in the near term, the analyst tells investors in a research note.