TD Cowen lowered its price target on AutoZone to $3,400 from $3,500 while keeping a Buy rating, a day after the auto-parts retailer reported fiscal fourth-quarter results. AutoZone posted earnings per share of $56.05 and total company same-store sales growth of 1.5%, with revenue of about $6.6 billion falling just short of the roughly $6.71 billion analysts had expected. TD Cowen analyst Max Rakhlenko pointed to an improved fourth-quarter exit rate and momentum early in the first quarter, but flagged domestic comparable sales as the sticking point, calling AutoZone likely to stay a battleground stock until those trends improve. The firm expects same-SKU inflation to run hotter than it first thought in fiscal 2027, with do-it-yourself demand elasticity the variable to watch, while the do-it-for-me segment keeps taking share. Evercore ISI held its Outperform rating and $3,500 target, and AutoZone shares, down more than 30% over the past year, trade near a 52-week low of $2,797.
AutoZone IncTD Cowen cut its AutoZone price target to $3,400 from $3,500 after Q4 same-store sales growth of 1.5% and revenue missed estimates.
Evercore Partners Inc