AutoZone price target raised to $3,875 from $3,500 at UBS

UBS analyst Michael Lasser raised the firm’s price target on AutoZone (AZO) to $3,875 from $3,500 and keeps a Buy rating on the shares. AutoZone’s Q1 represented another mixed period, but it doesn’t change the long-term story, the analyst tells investors in a research note. AutoZone should see growing share gains as it executes its strategy, which should be complemented by gradual stabilization in the aftermarket, UBS argues, adding that it believes its trends have accelerated as the cold weather set in recently, which should provide a tailwind heading into the upcoming calendar year.