AutoZone: Barclays lowers its target price

(CercleFinance.com) - Barclays reaffirms its 'Overweight' recommendation on AutoZone, while lowering its price target from $3,100 to $3,024, judging the automotive parts and accessories distributor to be 'close to a crossroads' following its quarterly publication.


AutoZone has once again demonstrated its unique ability to manage EPS effectively in all different scenarios, but the debate surrounding the sustainability of these levers is heating up, due to the absence of a clear path to sales improvement", notes the broker.

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