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Fly News Breaks for May 24, 2017
AZO
May 24, 2017 | 06:30 EDT
JPMorgan analyst Christopher Horvers views yesterday's pullback in shares of AutoZone as a "major" buying opportunity. The stock dropped 12% on an 8% earnings miss for a quarter that represents only one-fourth of the year, Horvers tells investors in a post-earnings research note. The quarter will re-base consensus estimates, which is when you want to buy retail stocks, the analyst contends. He lowered his price target for AutoZone shares to $800 from $850 and keeps an Overweight rating on the name.
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