Wells Fargo analyst Zachary Fadem raised the firm’s price target on AutoZone to $3,250 from $3,000 and keeps an Overweight rating on the shares. While Q2 comps/DIFM expectedly fell short, AutoZone’s margins were impressive, exit rate screens better, and relief seems warranted amidst margin/International upside and re-accelerating the second half of the year potential.
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Read More on AZO:
- AZO Earnings: AutoZone Rallies on Robust Q2 Momentum
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- AutoZone price target lowered to $2,779 from $2,800 at Barclays
- AutoZone to Release Second Quarter Fiscal 2024 Earnings February 27, 2024
