Morgan Stanley Maintains Equal-Weight on AutoZone

Morgan Stanley reiterates its Equal-weight rating on AutoZone (NYSE: AZO) as F1Q12 results come in solid.

Morgan Stanley comments, “AZO reported F1Q12 earnings on 12/6 and showed solid execution in both DIY and DIFM, reflected in a robust 4.6% comp (14.1% on a 2 yr stacked basis). We raise our estimates and see upside to the shares.”

AZO closed at $330.89 per share on Monday.