Truist raised the firm’s price target on AutoZone (AZO) to $4,038 from $3,995 and keeps a Buy rating on the shares. The company posted a solid quarter with their best comp and Commercial sales growth in about two years, and while margins were pressured a bit and modestly lower than expectations, some of those pressures should ease as early as this quarter, the analyst tells investors in a research note. The firm added that the company’s investments and initiatives are generating share gains and sales growth across channels and customer cohorts, and that margins should stabilize in the coming quarters and tariff-related price increases could provide another powerful tailwind.
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