AutoZone Downgraded To Sell

AutoZone, Inc.

has been downgraded from Neutral to Sell by Goldman Sachs, which is a sector relative call and reflects Goldman's view that AZO's outstanding performance has been priced fairly by the market yet EBIT opportunities are limited for the company. AZO remains one of Goldman's best companies to cover and yields the highest financial returns and one of the most aggressive buyback programs available. EPS estimates are currently $5.40, but Goldman has raised the price target to $213 (from $211) but notes that this quarter should report the first sequential decline in same store trends that might continue through 2011. AutoZone, Inc. closed Friday at $217.90. See Some of the Top Moving Indexes