JPMorgan analyst Christopher Horvers raised the firm’s price target on AutoZone (AZO) to $4,850 from $4,200 and keeps an Overweight rating on the shares. The firm increased estimates after channel work indicated stronger comp trends exiting the quarter. AutoZone continues to gain share, particularly in do-it-for-me, the analyst tells investors in a research note. JPMorgan sees additional multiple expansion potential for AutoZone shares.
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