Truist Lifts AutoZone, Inc. (AZO)’s Stock Price Target to $4,038, Maintains Buy Rating

Truist Securities on Tuesday expressed confidence in AutoZone, Inc. (NYSE:AZO)’s trajectory by lifting the stock’s price target to $4,038 per share from $3,995, while maintaining a Buy rating for its shares.

A technician in a mechanic’s uniform replacing an A/C compressor, signifying the company’s automotive replacement parts business.

While the firm’s analysts acknowledged margin pressures and foreign exchange impacts facing AutoZone, Inc. (NYSE:AZO), they also highlighted the company’s resilience and potential for growth. The overall tone from the analysts reflected their confidence in the management’s current strategies.

Analysts expect the ongoing challenges to stabilize over the coming quarters. They also anticipate the potential tariff-related price hikes to act as an additional boost for AutoZone, Inc. (NYSE:AZO). Truist reaffirmed its rating for the stock, urging investors to remain buyers of the company’s shares.

On May 27, AutoZone, Inc. (NYSE:AZO) reported a 6.6% decline in its quarterly profit as softening demand and currency fluctuations weighed on its margins. However, net sales grew 5.4% from last year to $4.5 billion, beating estimates of about $4.36 billion.

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Disclosure: None.