Truist raised the firm’s price target on AutoZone (AZO) to $4,504 from $4,038 and keeps a Buy rating on the shares. Strong exit rates in Q2 retail were generally boosted by soft July-2024 comparisons, modest price increase benefits and sales declines at Temu, the analyst tells investors in a research note. Sales were also reasonably stable during the quarter, with more moderate trends in June/early July, followed by a stronger August, the firm added.
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