Truist raised the firm’s price target on AutoZone to $3,501 from $3,341 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results among Hardlines/Broadlines Consumer names. According to Truist Card Data, Q3 is shaping up better than Q2, and the firm is also adjusting its estimates to reflect broader market multiple expansion and the start of a rate cut cycle, the analyst tells investors in a research note.
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Read More on AZO:
- AutoZone downgraded to Sell from Buy at Goldman Sachs
- AutoZone price target raised to $3,560 from $3,300 at Argus
- AutoZone price target lowered to $3,300 from $3,350 at Evercore ISI
- AutoZone price target lowered to $3,341 from $3,394 at Truist
- AutoZone price target raised to $3,350 from $3,225 at Guggenheim