BMO Capital raised the firm’s price target on AutoZone (AZO) to $4,100 from $3,850 and keeps an Outperform rating on the shares. The company’s Q3 earnings came in lighter than expected, with margin pressure from an ongoing mix shift towards commercial, FX, and ongoing growth investments, but while these factors will continue to impact the company in Q4, the firm’s long-term outlook remains favorable, expecting AutoZone to continue gaining market share in a still fragmented industry and given its anticipated return to steadily compounding earnings growth, the analyst tells investors in a research note.
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Read More on AZO:
- AutoZone price target raised to $4,850 from $4,192 at DA Davidson
- AutoZone target trimmed, removed from ‘Tactical Outperform’ list at Evercore ISI
- AutoZone price target raised to $4,000 from $3,750 at Morgan Stanley
- 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
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