Nomura Securities Reiterates a 'Buy' on AutoZone (NYSE: AZO); Adjusting PT & Estimates After Strong Q2

Nomura Securities reiterates a 'Buy' on AutoZone (NYSE: AZO) price target raised from $395 to $415.

Analyst, Aram Rubinson, said, "Raise px tgt from $395 to $415 after strong FQ2. We are updating our AZO estimates to reflect outperformance in FQ2, and lower anticipated repurchases on a share (though not on a dollar) basis. As a result, our F2012E EPS goes to $23.80 (from $23.90) and our F2013E EPS goes to $28.95 (from $29.45). We are still 2.5% and 7.5% ahead of the Street, and our EBITDA estimates are largely unchanged (we edge them up just slightly)."

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 $376.41 yesterday.

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