Morgan Stanley lowered the firm’s price target on AutoZone to $2,750 from $2,835 and keeps an Overweight rating on the shares. The Q4 results likely represents the lowest comp of the post-COVID era for AutoZone, especially in “do-it-for-me,” or DIFM, says the analyst. Reacceleration in commercial should be a catalyst and the stock “screens attractively with a GARP-y setup,” the analyst added in a post-earnings note.
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