Truist Securities has decided to maintain its Buy rating of AutoZone AZO and raise its price target from $2174.00 to $2292.00.
Shares of AutoZone are trading up 1.06% over the last 24 hours, at $2119.88 per share.
A move to $2292.00 would account for a 8.12% increase from the current share price.
AutoZone is the premier seller of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in the United States. The company derives an increasing proportion of its sales from domestic commercial customers, although its presence in its home market is still dominated by its do-it-yourself operation, which accounts for nearly 75% of sales in country. AutoZone also has a growing presence in Mexico and Brazil. AutoZone had 6,767 stores in the U.S. (6,051), Mexico (664), and Brazil (52) as of the end of fiscal 2021.
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