Truist raised the firm’s price target on AutoZone to $3,006 from $2,886 and keeps a Buy rating on the shares. The company posted a “solid” Q4 result with domestic comps largely in-line with estimates, while strong International sales drove an overall top-line beat, the analyst tells investors in a research note. Truist adds that while AutoZone’s Commercial business remains sluggish at about 4% sales growth vs. the recent double-digit run-rates, trends did accelerate towards the end of the quarter, and the company’s history suggests it should be able to return to double-digit growth.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on AZO:
- As the UAW Strike Rumbles on, Here Are 2 Stocks That Could Benefit From the Ongoing Disruption
- AutoZone price target raised to $2,975 from $2,950 at JPMorgan
- AutoZone’s Upcoming Fiscal Year: A Buy Recommendation Based on Improving Prospects and Anticipated EPS Growth
- AutoZone price target raised to $2,560 from $2,465 at BofA
- AutoZone price target raised to $2,742 from $2,721 at Barclays