D.A. Davidson upgrades AutoZone, raises PT

Autozone

21/03/2025 13:08

** D.A. Davidson upgrades AutoZone AZO.N to "buy" from "neutral", raises PT to $4,192 from $3,500

** Brokerage says auto parts aftermarket industry trends to be more consistent and resilient in times of economic downturns

** "We believe improving execution and building momentum within the company's brand elevation strategy is set to drive additional market share capture opportunities and margin expansion," D.A. Davidson says

** Adds that co is inflation/tariff beneficiary since higher prices in auto parts space are historically passed through to customers in margin neutral way, with little loss of volume

** Twenty-two of 30 brokerages rate stock "buy" or higher, 7 "hold" and 1 "sell"; median PT is $3,795.5 - data compiled by LSEG

** AZO stock up 11.6% YTD as of last close; it rose ~24% in 2024

 (Reporting by Ateev Bhandari in Bengaluru)

 ((Ateev.Bhandari@thomsonreuters.com;))