On Friday, analysts at Sterne Agee Initiated coverage on shares of AutoZone Inc. AZO with an Underperform rating and $550 price target.
Ali Faghri stated, “In the near term, we believe the company will have a difficult
time maintaining financial returns given substantial commercial investments.”
Other reasons for the Underperform rating are:
- DIY (do it yourself) tailwinds diminishing.
- Secular headwinds; consumers are shifting from DIY to DIFM (do it for me).
- Commercial growth slowing.
- Free cash flow drivers fading.
- Limited Acquisition opportunities.
Shares of Autozone recently traded at $573.89 unchanged.
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