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Fly News Breaks for April 23, 2019
AZO
Apr 23, 2019 | 08:34 EDT
Credit Suisse analyst Seth Sigman raised his price target for AutoZone to $1,131 from $1,050 after hosting meetings with the company's management. The analyst notes that the team provided a positive view on the sector outlook, as well as the prospects for its commercial business based on a number of changes made over the last couple of years and the potential for less incremental expense growth in the out years after the step-up this year. Overall, Sigman came away confident in the company's ability to sustain recent sales/gross margin momentum, which combined with its discount valuation should support further outperformance. He reiterates an Outperform rating on the shares.
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