AutoZone (AZO) Shares Surge as Citi Pounds the Table on Bull Case, Reiterates Buy
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Price: $415.81 -0.74%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade AZO Now!
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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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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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