UBS Raises Numbers on AutoZone (AZO); Model of Consistency
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Price: $3,064.48 +0.16%
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 1 | Down: 0 | New: 0
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 1 | Down: 0 | New: 0
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UBS maintains a 'Neutral' on AutoZone (NYSE: AZO) price target raised from $370 to $400.
UBS analyst says, "AZO’s strong quarter was highlighted by industry leading comp growth Heading into AZO’s print, comp expectations had moderated slightly on the heels of its competitors results. There was no need to lower the bar as the company’s comp of 5.9% handily beat our est. of 4%. We think the warm weather played into the company’s strength where there was greater demand for DIY products (as it was easier to do an oil change when the thermometer hit 60). This drew away some demand for the core failure, which weighed on Advanced (NYSE: AAP) / O'Reilly (Nasdaq: ORLY) even more since they have greater absolute exposure to those categories."
UBS boosts FY12 EPS estimate from $23.06 to $23.28 and FY13 from $26.41 to $26.67.
For an analyst ratings summary and ratings history on AutoZone click here. For more ratings news on AutoZone click here.
Shares of AutoZone closed at $376.41 yesterday.
UBS analyst says, "AZO’s strong quarter was highlighted by industry leading comp growth Heading into AZO’s print, comp expectations had moderated slightly on the heels of its competitors results. There was no need to lower the bar as the company’s comp of 5.9% handily beat our est. of 4%. We think the warm weather played into the company’s strength where there was greater demand for DIY products (as it was easier to do an oil change when the thermometer hit 60). This drew away some demand for the core failure, which weighed on Advanced (NYSE: AAP) / O'Reilly (Nasdaq: ORLY) even more since they have greater absolute exposure to those categories."
UBS boosts FY12 EPS estimate from $23.06 to $23.28 and FY13 from $26.41 to $26.67.
For an analyst ratings summary and ratings history on AutoZone click here. For more ratings news on AutoZone click here.
Shares of AutoZone closed at $376.41 yesterday.
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