DA Davidson raised the firm’s price target on AutoZone (AZO) to $4,850 from $4,192 and keeps a Buy rating on the shares. The company’s investments in their commercial business were on full display this quarter, driving continued share gains, with DIY segment results starting to trend positively, the analyst tells investors in a research note. AutoZone’s margins were weaker than expected, but a majority of that was due to one-time headwinds related to shrink and distribution center costs, with some continued pressure expected in Q4, the firm added.
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Read More on AZO:
- 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
- AutoZone price target lowered to $4,200 from $4,350 at JPMorgan