Nomura Securities on Auto Parts/Retailers: Lifting targets; Focus on AZO
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Price: $2,945.99 -4.25%
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
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Nomura Securities on Auto Parts/Retailers: Lifting targets; Focus on AZO
Analyst, Aram Rubinson, said, "Auto part retailers have begun to converge strategies regarding Commercial mix, Cash Flow and Margins. In the near term, it enhances the investment case driven by Commercial at AZO, Cash Flow at ORLY, and EBIT-margin expansion at AAP. AZO is our only Buy rating in the sector given visible growth, solid execution, and a compelling free cash yield makes for a strong risk/reward profile."
AutoZone (NYSE: AZO) (Buy): Raise our F13 EPS estimate to $29.20 (from $28.95) to reflect more Commercial visibility. PT from $415 to $445. Reports FQ3 on May 22.
O'Reilly (Nasdaq: ORLY) (Neutral): Raise F12 and F13 EPS estimates to $4.70 (from $4.53) and $5.50 (from $5.48) to reflect Q1 results. PT from $83 to $95.
Advanced Auto (NYSE: AAP) (Neutral): Raise F12 and F13 EPS estimates to $6.00 (from $5.87) and $6.80 (from $6.75) to reflect additional EBIT margin expansion. PT from $90 to $95. Reports Q1 results on May 17.
Analyst, Aram Rubinson, said, "Auto part retailers have begun to converge strategies regarding Commercial mix, Cash Flow and Margins. In the near term, it enhances the investment case driven by Commercial at AZO, Cash Flow at ORLY, and EBIT-margin expansion at AAP. AZO is our only Buy rating in the sector given visible growth, solid execution, and a compelling free cash yield makes for a strong risk/reward profile."
AutoZone (NYSE: AZO) (Buy): Raise our F13 EPS estimate to $29.20 (from $28.95) to reflect more Commercial visibility. PT from $415 to $445. Reports FQ3 on May 22.
O'Reilly (Nasdaq: ORLY) (Neutral): Raise F12 and F13 EPS estimates to $4.70 (from $4.53) and $5.50 (from $5.48) to reflect Q1 results. PT from $83 to $95.
Advanced Auto (NYSE: AAP) (Neutral): Raise F12 and F13 EPS estimates to $6.00 (from $5.87) and $6.80 (from $6.75) to reflect additional EBIT margin expansion. PT from $90 to $95. Reports Q1 results on May 17.
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