AutoZone price target raised to $2,850 from $2,650 at Raymond James

Raymond James analyst Bobby Griffin raised the firm’s price target on AutoZone to $2,850 from $2,650 and keeps an Outperform rating on the shares. The firm expects a continuation of DIY/DIFM market share gains driven by improved parts coverage and availability as well as strong execution, and sees further opportunities for AutoZone to gain incremental share in both sides of its business, the analyst tells investors in a research note.