Stocks · News reference
Evercore ISI Group analyst Greg Melich maintains AutoZone (NYSE:AZO) with a Outperform and lowers the price target from $3700 to $3500.
Reference Details
Poisar stores the source's headline, summary and market tags for reference. Reporting and full article text remain with the original publisher.
Keep reading
A fourth straight decline in crude oil handed Wall Street a fresh leg higher Monday, with the Nasdaq 100 jumping to a three-month high as semiconductors led the tape. Intel surged nearly 14% on SK Hynix foundry optimism while AMD crossed the $1 trillion mark. Energy was the lone sector in the red as WTI slid more than 5% to an 11-day low
Oppenheimer analyst Brian Nagel maintains AutoZone (NYSE:AZO) with a Outperform and lowers the price target from $4300 to $3500.
AutoZone is expected to report Q4 earnings of $54.97 per share, representing a 12.9% year-over-year increase, with revenues projected at $6.71 billion, up 7.5% from the prior year quarter. Analysts forecast domestic commercial sales of $1.95 billion (+10.6% YoY) and same-store sales growth of 3.7%, though this represents a slowdown from the prior year's 4.8%. The company is projected to expand its store count to 8,017 locations globally. However, AutoZone carries a Zacks Rank #4 (Sell) rating and has underperformed the market, declining 7.4% over the past month compared to the S&P 500's -2.9% decline.