Truist raised the firm’s price target on AutoZone to $3,363 from $3,027 and keeps a Buy rating on the shares. The company’s domestic sales were below expectations, though its International is strong at above-10% growth, with margins that also “nicely exceeded expectations”, the analyst tells investors in a research note. Truist remains an “aggressive buyer” of shares on another “sustainable step-up” in margins and comps that seem poised to re-accelerate as comparisons ease, the firm added.
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