BofA upgrades AutoZone to 'buy', raises PO

Autozone

21/05/2025 16:13

** BofA Global Research upgrades auto part retailer AutoZone AZO.N to 'buy' from 'neutral', raises price objective to $4,800 from $3,900

     ** New price objective a 23.7% upside to stock's last close

     ** Shares are down 0.25% at $3,870

 ** Brokerage says upgrade driven by co's potential benefit from price increases and tailwind from maturing commercial programs

 ** Says auto tariffs could benefit auto parts aftermarket sales, as consumers spend more on repair rather than buy new vehicles

     ** 23 of 29 brokerages rate the stock "buy" or higher and 6 "hold" ; their median PT is $3,950 - data compiled by LSEG

     ** Including session's moves, shares are up 21% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))