These Analysts Revise Their Forecasts On AutoZone After Q4 Results

AutoZone Inc AZO reported better-than-expected earnings for its fourth quarter.

The company posted fourth-quarter FY23 sales growth of 6.4% year-on-year to $5.69 billion, beating the analyst consensus of $5.61 billion. EPS of $46.46 beat the consensus of $45.12.

AutoZone shares gained 4% to trade at $2,575.11 on Wednesday.

These analysts made changes to their price targets on AutoZone following earnings announcement.

• Barclays raised the price target on AutoZone from $2,721 to $2,742. Barclays analyst Seth Sigman maintained an Overweight rating.
• JP Morgan boosted the price target on AutoZone from $2,950 to $2,975. JP Morgan analyst Christopher Horvers maintained an Overweight rating.
• Morgan Stanley cut the price target on AutoZone from $2,835 to $2,750. Morgan Stanley analyst Simeon Gutman maintained an Overweight rating.
• Truist Securities boosted the price target on AutoZone from $2,886 to $3,006. Truist Securities analyst Scot Ciccarelli maintained a Buy rating.
• DA Davidson raised the price target on AutoZone from $2,425 to $2,500. DA Davidson analyst Michael Baker maintained a Neutral rating.

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