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Barclays Reiterates an 'Overweight' on AutoZone (AZO); Strong 4Q with Industry-Leading Comps

September 21, 2011 1:37 PM EDT
Get Alerts AZO Hot Sheet
Price: $3,151.65 -1.29%

Rating Summary:
    27 Buy, 10 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Barclays reiterates an 'Overweight' on AutoZone (NYSE: AZO) price target of $365.00.

Barclays analyst says, "We are maintaining our fiscal 2012 EPS estimate of $22.25 (based on 3.5% same-store sales) and our fiscal 2013 EPS estimate of $25.00 (based on 3.0% same-store sales). We are $0.12 above the Street for fiscal 2012 and $0.16 above the Street for 2013. Recall that on Monday, September 19, we raised our price target on AutoZone from $336 to $365 as we see further potential upside to shares due to improving fundamentals as well as the company's strong ROIC focus, an aggressive share repurchase program and no exposure to Europe. AutoZone remains one of our top picks and is one of only five Overweight-rated names in our coverage universe."

For more ratings news on AutoZone click here and for the rating history of AutoZone click here.

Shares of AutoZone closed at $327.75 yesterday.


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