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Fly News Breaks for May 23, 2018
AZO
May 23, 2018 | 07:23 EDT
Wedbush analyst Seth Basham lowered his price target for AutoZone to $680 from $750, while reiterating an Outperform rating on the shares. The analyst notes that Q3 results were "acceptable in isolation," with EPS beating primarily on solid gross margin performance while comps missed due to transitory unfavorable weather. However, the company's earnings call shed light on a growing issue, namely wage pressure, he contends.
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