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.
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>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on AZO:
- Oppenheimer Pan Doesn’t Faze AutoZone (NYSE:AZO) and O’Reilly
- e.l.f. Beauty upgraded, AutoZone downgraded: Wall Street’s top analyst calls
- AutoZone downgraded to Perform from Outperform at Oppenheimer
- AutoZone price target lowered to $2,863 from $3,006 at Truist
- Fly Insider: HighPeak Energy, Signet among week’s notable insider trades