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AutoZone (AZO) Shares Surge as Citi Pounds the Table on Bull Case, Reiterates Buy

July 12, 2012 12:25 PM EDT Send to a Friend
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Price: $532.15 -0.85%

Rating Summary:
    6 Buy, 14 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 9 | Down: 11 | New: 42
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Shares of AutoZone (NYSE: AZO) are outperforming the broader stock market sharply Thursday following a reiterated Buy rating and some bullish comments from Citi's Kate McShane earlier. While the S&P 500 is down 0.66 percent at last check, AutoZone shares are up 3.6 percent.

McShane believes the company is positioned strongly to see a benefit from improving trends in the Auto Parts sector following a "tough" June. She noted sales have picked up "meaningfully" so far in July.

The analyst likes AutoZone due to its "best in class" do-it-yourself operation and widening market share in the do-it-for-me segment.

McShane's $433 price target implies potential upside of about 13 percent from where the stock is trading Thursday afternoon.

To track all the market-moving analyst action on shares of AutoZone, visit our Analyst Ratings page.

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