Barclays Reiterates an 'Overweight/Top Pick' on AutoZone (AZO); Strong 1Q with Impressive Comps
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Price: $2,945.25 -1.45%
Rating Summary:
27 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
27 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Barclays reiterates an 'Overweight/Top Pick' on AutoZone (NYSE: AZO) price target of $365.00.
Barclays analyst says, "We are raising our fiscal 2012 EPS estimate from $22.60 to $23.00 (based on 4.0% same-store sales) and our fiscal 2013 EPS estimate from $25.75 to $26.20 (based on 3.5% same-store sales). We are now $0.40 above the Street for fiscal 2012 and $0.45 above the Street for 2013. AutoZone remains one of our Top Picks during the holiday season as we see further upside to shares due to improving fundamentals and the company's strong ROIC focus, aggressive share repurchase program and no exposure to Europe. With lingering concerns about the broader macro environment, we believe that investment in AZO, a low-cyclical, low discretionary company with only 17% of annual EPS in calendar 4Q, is prudent."
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 $337.81 yesterday.
Barclays analyst says, "We are raising our fiscal 2012 EPS estimate from $22.60 to $23.00 (based on 4.0% same-store sales) and our fiscal 2013 EPS estimate from $25.75 to $26.20 (based on 3.5% same-store sales). We are now $0.40 above the Street for fiscal 2012 and $0.45 above the Street for 2013. AutoZone remains one of our Top Picks during the holiday season as we see further upside to shares due to improving fundamentals and the company's strong ROIC focus, aggressive share repurchase program and no exposure to Europe. With lingering concerns about the broader macro environment, we believe that investment in AZO, a low-cyclical, low discretionary company with only 17% of annual EPS in calendar 4Q, is prudent."
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 $337.81 yesterday.
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