Barclays analyst Seth Sigman raised the firm’s price target on AutoZone (AZO) to $4,510 from $3,916 and keeps an Overweight rating on the shares as part of a fiscal Q4 earnings preview. The company is well positioned with inflation accelerating and its do-it-for-me initiatives are driving stronger market share, the analyst tells investors in a research note. The firm expects earnings estimates for AutoZone to move higher post the earnings report. Its sales trackers indicate AutoZone’s Q4 domestic comps were up 5%-6%, above the consensus estimate of up 4%.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AZO:
- AutoZone price target raised to $4,925 from $4,260 at UBS
- AutoZone price target raised to $4,900 from $3,900 at Citi
- AutoZone Announces Leadership Changes with New Appointments
- Trump Weekly: Trump adds goods subject to steel, aluminum tariffs
- Trump Trade: White House adds more goods subject to 50% steel tariff