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Benzinga
Benzinga
Business
Shivani Kumaresan

Morgan Stanley Bumps Up AutoZone Price Target - Read Why

AutoZone Morgan Stanley Simeon Gutman AZO AutoZone Inc NYSE
  • Morgan Stanley analyst Simeon Gutman upgraded AutoZone Inc (NYSE:AZO) to Overweight from Equal Weight and raised the price target to $2,420 from $2,125, suggesting an upside of 20.16%.
  • The analyst said the stock has an attractive 3:1 bull/bear skew.
  • Simeon is confident of AutoZone’s continuation of sales and earnings growth.
  • The analyst said he favors defensive stocks with offensive characteristics.
  • Price Action: AZO shares closed lower by 1.06% at $2,013.81 on Wednesday.
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