Truist lowered the firm’s price target on AutoZone to $3,341 from $3,394 but keeps a Buy rating on the shares after its Q4 earnings miss amid “continuing pressures” on Discretionary goods and lower income consumers. The firm notes however that AutoZone’s commercial trends did improve a bit sequentially and were flat on a 2-year basis, whileInternational sales were again up double-digits, excluding currency, the analyst tells investors in a research note. Truist adds that AutoZone sales trends should improve in FY25 as same SKU inflation reasserts and as Discretionary and DIY segment compares ease.
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