BofA analyst Elizabeth Suzuki raised the firm’s price target on AutoZone to $2,560 from $2,465 and keeps a Neutral rating on the shares after the company’s Q4 earnings beat. While the firm’s revised P/E multiple is a premium to the stock’s historical average, the company’s focus appears to be honed in on store growth and increasing its market share in the professional/commercial channel, the analyst tells investors in a research note.
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Read More on AZO:
- AutoZone’s Upcoming Fiscal Year: A Buy Recommendation Based on Improving Prospects and Anticipated EPS Growth
- AutoZone announces plans for ‘aggressive’ store development plan
- AutoZone reports Q4 total company SSS up 4.5%
- Options Volatility and Implied Earnings Moves Today, September 19, 2023
- AutoZone 4th Quarter Domestic Same Store Sales Increase 1.7%; 4th Quarter EPS Increases to $46.46; Annual Sales of $17.5 Billion