Robert Ohmes, an analyst from Bank of America Securities, reiterated the Buy rating on AutoZone. The associated price target is $4,800.00.
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Robert Ohmes’s rating is based on AutoZone’s strong market position and its ability to gain market share in both the DIY and professional segments. Despite some pressures from gross margin and SG&A, the company is expected to benefit from inflation-driven price increases and favorable dynamics between used and new car markets.
Furthermore, AutoZone’s resilience in economic downturns and its strategic investments in technology and supply chain improvements support a positive outlook. The company is also poised to continue its growth through commercial programs and the expansion of hubs and mega hubs, which are expected to drive further share gains.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $4,800.00 price target.
AZO’s price has also changed moderately for the past six months – from $3614.270 to $4132.830, which is a 14.35% increase.