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Fly News Breaks for May 30, 2017
AZO
May 30, 2017 | 07:15 EDT
As noted earlier, Wedbush downgraded AutoZone to Neutral from Outperform. As reasons for the downgrade, analyst Seth Basham cited the sector's declining margins and competition from e-commerce. He thinks that the sector's comp sales growth will have a "new normal rate" of "closer to 2%," down from 3%-4% previously.
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