J.P. Morgan Reiterates Neutral Rating on AutoZone Inc. (AZO)

J.P. Morgan is out with a research report this morning, where it reiterates its Neutral rating on AutoZone Inc. AZO; it has a $240.00 price target on the stock. The J.P. Morgan analysts adjusted their estimates for the name, decreasing the EPS estimate to $17.98 from $18.14 previously. For 2012, they are decreasing their EPS estimate to $20.69 from $20.43 previously. The analysts said, “While the secular tailwinds are still strong and AZO is operating in best-in-class style, we believe that upward earnings revisions are slowing. This, combined with a relatively full valuation, is likely to cap out the stock upside potential, in our view.”