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Fly News Breaks for October 7, 2019
AZO
Oct 7, 2019 | 17:14 EDT
Raymond James analyst Matthew McClintock resumed coverage of AutoZone with an Outperform rating and a price target of $1,250. The analyst believes that the company can grow its earnings by over 10% per year for the "investable future" and also boost its revenue by mid-single-digit. McClintock adds that while AutoZone's gross margin may be flat or turn slightly lower, he believes that the company has "meaningful opportunities" for SG&A expense leverage.
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