Deutsche Bank Raises AutoZone PT To $250

AutoZone, Inc. AZO is increasing its FY11 and FY 12 estimates to $18.10 and $19.98 from $17.01 and $18.65. “We are raising our price target to $250,” Deutsche Bank writes. “Our new price target is based on 12x our revised CY12 EPS estimate, in line with AZO's long term average multiple and in-line with its long-term growth rate.” AutoZone closed Tuesday at $260.15.