Deutsche Bank Upgrades AutoZone (AZO) to Buy; Four Strong Factors Sway Us
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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!
Deutsche Bank upgraded AutoZone (NYSE: AZO) from Hold to Buy with a price target of $425.00 (from $385.00).
Deutsche analyst says, "The upgrade is based on four factors: (1) Economic concerns should weigh against new car sales and gas prices are falling, both of which are favorable for AZO’s comps; (2) AZO has the best opportunity for further share gains in commercial which leads to industry leading sales trends; (3) operating margins continue to increase, helped by stable pricing and leverage; and (4) stocks with defensive characteristics should get a higher relative multiple in a difficult macro environment."
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 $375.03 yesterday, with a 52 week range of $266.25-$399.10.
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Deutsche analyst says, "The upgrade is based on four factors: (1) Economic concerns should weigh against new car sales and gas prices are falling, both of which are favorable for AZO’s comps; (2) AZO has the best opportunity for further share gains in commercial which leads to industry leading sales trends; (3) operating margins continue to increase, helped by stable pricing and leverage; and (4) stocks with defensive characteristics should get a higher relative multiple in a difficult macro environment."
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 $375.03 yesterday, with a 52 week range of $266.25-$399.10.
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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