Goldman Sachs Upgrades AutoZone (AZO) to Buy

Goldman Sachs upgraded AutoZone (NYSE: AZO) from Neutral to Buy with a price target of $715.00 (from $825.00).

Analyst Matthew Fassler expects the valuation to bounce back as sales and earnings growth revert. He calls the company "well-managed" and believes the company is coping with momentary, sector-wide slowdown that "we expect to fade."

FY 2017 EPS estimate falls from $45.00 to $44.15, FY 2018 EPS estimate falls from $50.00 to $48.25 and FY 2019 EPS estimate falls from $55.25 to $53.65.

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 $615.62 Friday.

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