Barclays Q3 Preview on AutoZone (AZO); Remains a 'Top Pick'

Barclays maintains an 'Overweight/Top Pick' on AutoZone (NYSE: AZO) price target of $420.00.

Analyst, Alan, M. Rifkin, said, "Expect solid comps and above-consensus EPS: Our 3Q EPS estimate of $6.30, vs. $5.29 LY, is $0.04 above the Street. Recall that we raised our estimates and price target on AutoZone in late April citing continued industry strength together with potential upside form the company's ongoing DIFM buildout. On the DIY side, AutoZone's strong execution continues to drive market share gains."

Rifkin names AZO as a Top Pick and sees further upside in shares from business intiatives in place, fundamentals that are improving, supportive industry dynamics and strong stock buyback plan.

NOTE - AutoZone reports Q3 earnings on May 22.

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 $388.87 yesterday.

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