- Morgan Stanley analyst Simeon Gutman upgraded AutoZone Inc AZO to Overweight from Equal Weight and raised the price target to $2,420 from $2,125, suggesting an upside of 20.16%.
- The analyst said the stock has an attractive 3:1 bull/bear skew.
- Simeon is confident of AutoZone’s continuation of sales and earnings growth.
- The analyst said he favors defensive stocks with offensive characteristics.
- Price Action: AZO shares closed lower by 1.06% at $2,013.81 on Wednesday.
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