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Fly News Breaks for September 20, 2017
AZO
Sep 20, 2017 | 05:26 EDT
Citi analyst Kate McShane views AutoZone's Q4 results as encouraging despite the corresponding selloff in the shares. The main takeaway from the report was the positive momentum in comps following last quarter's decline, McShane tells investors in a post-earnings research note. The stabilization and improvement from last quarter support the belief that industry fundamentals remain solid, the analyst adds. She lowered her price target for AutoZone shares to $700 from $750 and keeps a Buy rating on the name.
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