Evercore ISI Lifts PT on AutoZone (AZO) to $4,250 From $4,060

AutoZone, Inc. (NYSE:AZO) is one of the best automotive stocks to buy according to hedge funds. On August 18, Evercore ISI raised the firm’s price target on AutoZone, Inc. (NYSE:AZO) to $4,250 from $4,060 while keeping an Outperform rating on the shares.

Jim Cramer Notes “You Have a Winner in AutoZone (AZO)”

The firm told investors in a retail earnings preview note that the timing of the Trump 2.0 policies caused uncertainties in the Q2 earnings season for large-cap retailers.

However, it added that Q2 was “generally” solid, with limited price elasticity and early tariff pass-through allowing nominal demand to hold up.

AutoZone, Inc. (NYSE:AZO) is involved in the retail and distribution of automotive replacement parts and accessories. The company’s operations are divided into the Auto Part Stores and Other segments.

While we acknowledge the potential of AZO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AZO and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.