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.
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