Argus raised the firm’s price target on AutoZone to $3,016 from $2,920 and keeps a Buy rating on the shares after its Q1 earnings beat. The company’s earnings have rebounded from their pandemic lows and have now topped Street expectations for 14 straight quarters, the analyst tells investors in a research note. Argus adds that it sees opportunities for further growth as the average age of vehicles increases, the company gains share in the commercial segment, and as its international sales ramp up.
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