AutoZone falls after brokerage Evercore cuts PT

OReilly Automotive

13/05/2024 15:13

** Shares of automotive parts retailer AutoZone  AZO.N  fall
1% to $2,948.89
    ** Evercore ISI cuts PT to $3,300 from $3,340, adds to
"tactical underperform" under its TAP (tactical, action,
positioning) list
    ** Continued DIFM (do-it-for-me) segment weakness under its
vehicle repair and maintenance business in upcoming Q3 results
can "spook investors" - brokerage
    ** This can prompt a stock reaction in excess of peer
O'Reilly Automotive's  ORLY.O  contraction after its earnings,
says Evercore
    ** 22 brokerages rate stock "buy" or higher and six "hold";
median PT is $3,400 - LSEG data
    ** Stock up 14.5% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))