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Fly News Breaks for December 6, 2018
AZO
Dec 6, 2018 | 08:25 EDT
Argus analyst Deborah Ciervo raised her price target on AutoZone to $940 and kept her Buy rating after its Q1 earnings and revenue beat, with the upside "driven by the 11% growth in its Commercial Sales segment." The analyst expects the company to continue to benefit from "solid industry fundamentals, which include an aging vehicle fleet, low gasoline prices, and increasing miles driven per car", also raising her FY19 EPS view to $58.25 from $56.50 and FY20 to $62 from $60.
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