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Fly News Breaks for September 27, 2016
AZO
Sep 27, 2016 | 06:16 EDT
Morgan Stanley analyst Simeon Gutman upgraded AutoZone to Overweight saying the company is at a positive inflection in 7 year and older vehicles, which is strongly correlated to same-store-sales. He believes industry growth in 2017 can accelerate by 200+bps with near-term sales poised to benefit from a cold winter. Gutman views valuation as "undemanding" and raised AutoZone's price target to $840 from $820.
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