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Fly News Breaks for September 21, 2017
AZO
Sep 21, 2017 | 07:24 EDT
Stephens analyst Ben Bienvenu said AutoZone management's commentary around its strategic initiatives leads him to believe the timeline for material improvement is likely extended and he fears earnings growth may remain suppressed in the near-term as industry demand is hampered by another mild winter, slowing miles driven growth and a slower increase in the average ages of cars on the road. Given these headwinds, he lowered his price target on AutoZone to $550 from $620 and keeps an Equal Weight rating on the shares.
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