Barclays Reiterates an 'Overweight' on AutoZone (AZO); Looking for Industry-Leading Comps
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Price: $2,985.54 +0.42%
Rating Summary:
27 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
27 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Barclays reiterates an 'Overweight' on AutoZone (NYSE: AZO) price target of $420.00.
Analyst, Alan M. Rifkin, said, "Our 4Q EPS estimate of $8.51, which is $0.09 above the Street, is based on a 3.5% comp - a level that we remain comfortable with. We believe AZO continues to execute quite well in DIFM, with estimated comps of 18-20%...We believe AZO management remains aggressive with their buyback strategy, which is central to our thesis. We believe the company will repurchase an estimated $500 million in stock in fiscal 4Q."
FY12 EPS estimate maintained at $23.45, FY13 raised from $27.10 to $27.65.
For an analyst ratings summary and ratings history on AutoZone click here. For more ratings news on AutoZone click here.
Shares of AutoZone closed at $374.79 yesterday.
Analyst, Alan M. Rifkin, said, "Our 4Q EPS estimate of $8.51, which is $0.09 above the Street, is based on a 3.5% comp - a level that we remain comfortable with. We believe AZO continues to execute quite well in DIFM, with estimated comps of 18-20%...We believe AZO management remains aggressive with their buyback strategy, which is central to our thesis. We believe the company will repurchase an estimated $500 million in stock in fiscal 4Q."
FY12 EPS estimate maintained at $23.45, FY13 raised from $27.10 to $27.65.
For an analyst ratings summary and ratings history on AutoZone click here. For more ratings news on AutoZone click here.
Shares of AutoZone closed at $374.79 yesterday.
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