Citi analyst Steven Zaccone removed Buy-rated AutoZone from the firm’s Focus List citing moderating do-it-for-me tailwinds. The latest installment of Citi’s auto repair sentiment tracker points to solid DIFM trends, but the level of optimism is moderating as shown by normalizing business conditions, decelerating hiring activity, and auto parts disinflation, the analyst tells investors in a research note. "The data is not flashing red, but the green lights throughout 2022 are in the rear-view mirror," writes Citi.
Published first on TheFly
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