DA Davidson upgraded AutoZone (AZO) to Buy from Neutral with a price target of $4,192, up from $3,500. The firm cites four reasons for the upgrade, including and investor “flight to quality”; the stock’s defensive positioning; the company being an inflation and tariff beneficiary; and its commercial market share gains. The firm is also including AutoZone as its next “Best-of-Breed Bison” company within the framework developed by the firm’s research team to find long term best in class companies with sustainable moats, the analyst tells investors.
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