Morgan Stanley Reiterates Equal-Weight Rating on AutoZone
In a report published Wednesday, Morgan Stanley reiterated its Equal-Weight rating on AutoZone (NYSE: AZO).
Morgan Stanley noted, “We remain Equal-weight AZO shares as we see positive long-term trends within auto parts retail, and see upside to shares as the company executes on its initiatives to grow commercial and international sales as well as stable return of capital. However, we continue to prefer ORLY long-term for its higher exposure to DIFM, geographic growth opportunities and its earlier positioning in the return of capital process.”
AutoZone closed on Tuesday at $357.84.
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