AutoZone (AZO) Stock: $2,174 Price Target And Buy Rating

By Amit Chowdhry ● May 25, 2022
  • The shares of AutoZone, Inc. (NYSE: AZO) have received a $2,174 price target from Truist. These are the details.

The shares of AutoZone, Inc. (NYSE: AZO) have received a $2,174 price target from Truist. And Truist analyst Scot Ciccarelli is maintaining a “Buy” rating on the shares.

Ciccarelli adjusted the rating following the company’s third-quarter results. And Ciccarelli noted that the third-quarter results were very solid despite several weeks of soft sales in the DIY channel.

Plus Ciccarelli pointed out that the quarter was also impacted by very difficult comparisons as well as a sharp rise in gas prices and inflation. AutoZone is continuing to grow its commercial business at a much faster rate than its public competitors and the overall DIY channel is resilient due to more personal vehicle usage, elevated vehicle prices, and an in-step SKU inflation.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.