AutoZone price target raised to $2,360 from $1,950 at DA Davidson

DA Davidson analyst Michael Baker raised the firm’s price target on AutoZone to $2,360 from $1,950 but keeps a Neutral rating on the shares after its Q1 earnings beat. The company saw improving trends in their retail business along with double digit growth in commercial, which slowed but continues to show strong share gains, the analyst tells investors in a research note. Baker adds however that operating profits were down year over year, which led to a bit of a pause in the stock after strong year to date outperformance.