BofA Securities Upgrades AutoZone (AZO) to Buy, 'Rising New & Used car prices support industry outlook'

BofA Securities analyst Robert Ohmes upgraded AutoZone (NYSE: AZO) from Neutral to Buy with a price target of $4,800.00 (from $3,900.00).

The analyst comments "Expect F3Q top-line strength given data & tax refunds. AutoZone (AZO) will report F3Q25 on Tuesday, 5/27. We forecast F3Q EPS of $38.15 and domestic comp growth of 2.0%, vs. consensus EPS of $36.80 and domestic comp of 2.4%. We expect top-line strength given the sequential acceleration in Bloomberg Second Measure data (1.88% in F2Q25 vs. 5.83% F3Q25). Weekly observed sales accelerated in March and grew HSD, likely due to favorable tax refunds. BAC aggregated credit & debit card data (5/9/25) suggest resiliency in auto aftermarket spending. See our economists’ BofA on USA report for limitations, disclosures, and methodology in connection with BAC card data."

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 $3880.15 yesterday.

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