TD Cowen initiated coverage of AutoZone with an Outperform rating and $2,975 price target. The firm sees catalysts that should support “strong revenue growth,” projecting revenue to grow at a 7.7% compound annual growth rate from FY23-FY27. Growth will be driven by the do-it-for-me, or DIFM, channel, which the firm expects to rebound in the near term and remain in the double-digit percentage growth range over the longer term, the analyst tells investors.
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