Wedbush analyst Seth Basham lowered his price target for AutoZone to $670 from $720, while reiterating a Neutral rating on the shares. The analyst notes that AutoZone's comparable sales topped all peers, but bullish investor sentiment, the modest comp and margin miss for Q2, a weak comp exit rate and significant tax savings reinvestment plans led to a sharp selloff in the shares. While the selloff may be overdone in the near-term, the company's results cap off a quarter where auto parts retail sales did not improve as expected, with cost and investment pressures growing, he contends.