Evercore ISI lowered the firm’s price target on AutoZone to $3,350 from $3,900 and keeps an Outperform rating on the shares ahead of the company reporting fiscal Q4 earnings on Tuesday, September 24. The firm anticipates Q4 “should hold up better than feared,” with DIY softness likely an ongoing theme, the analyst tells investors in a preview. Defensive growth and pricing power are keeping AutoZone “a Fab Five Portfolio top pick,” the analyst added.
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