Morgan Stanley Maintains Overweight Rating for AutoZone: Here's What You Need To Know

Morgan Stanley has decided to maintain its Overweight rating of AutoZone AZO and raise its price target from $2750.00 to $2900.00.

Shares of AutoZone are trading down 0.92% over the last 24 hours, at $2685.69 per share.

A move to $2900.00 would account for a 7.98% increase from the current share price.

About AutoZone

AutoZone Inc is the 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 around 70% of sales in country. AutoZone also has a growing presence in Mexico and Brazil. AutoZone had 6,943 stores in the U.S. (6,168), Mexico (703), and Brazil (72) as of the end of fiscal 2022.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.