DA Davidson raised the firm’s price target on AutoZone to $3,025 from $2,770 and keeps a Neutral rating on the shares. The company’s Q2 results were mixed, with a gross margin beat offsetting a sales miss, but comps improved significantly by the end of the quarter – both in the DIY business, but more importantly in the DIFM segment as well, the analyst tells investors in a research note.
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Read More on AZO:
- AZO Earnings: AutoZone Rallies on Robust Q2 Momentum
- AutoZone 2nd Quarter Total Company Same Store Sales Increase 1.5%; Domestic Same Store Sales Increase 0.3%; EPS Increases to $28.89
- AutoZone reports Q2 EPS $28.89, consensus $26.28
- Notable companies reporting before tomorrow’s open
- AutoZone price target lowered to $2,779 from $2,800 at Barclays