UPDATE - UBS Initiates Coverage on AutoZone (AZN) with a Neutral; Rolling Ahead, but at a Slower Pace
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Price: $92.77 --0%
Rating Summary:
19 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
19 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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UPDATE - UBS initiates coverage on AutoZone (NYSE: AZN) with a Neutral rating. PT $305.
UBS analyst says, "We think AZO has a number of positive investment considerations, but we are hesitant to recommend the stock ahead of what is likely to be a meaningful slowdown in the automotive aftermarket. Since AZO derives a greater portion of its mix from the do it yourself (DIY) segment than its peers, it will be particularly sensitive to slowing trends in this sub-sector."
"In a slower industry environment, AZO still has levers to pull - In the face of a potential industry wide deceleration, AZO has the benefit of: 1) strong compet
itive positioning; 2) continued growth from its burgeoning commercial segment; 3) flexibility with its operating expense structure; and 4) the consistency of its share repurchase program."
UBS analyst says, "We think AZO has a number of positive investment considerations, but we are hesitant to recommend the stock ahead of what is likely to be a meaningful slowdown in the automotive aftermarket. Since AZO derives a greater portion of its mix from the do it yourself (DIY) segment than its peers, it will be particularly sensitive to slowing trends in this sub-sector."
"In a slower industry environment, AZO still has levers to pull - In the face of a potential industry wide deceleration, AZO has the benefit of: 1) strong compet
itive positioning; 2) continued growth from its burgeoning commercial segment; 3) flexibility with its operating expense structure; and 4) the consistency of its share repurchase program."
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