Oppenheimer Analyst Downgrades AutoZone And This Stock With 'Tide Turning For Auto Parts'
Portfolio Pulse from Priya Nigam
Oppenheimer analyst Brian Nagel has downgraded the ratings for O'Reilly Automotive (ORLY) and AutoZone (AZO) from Outperform to Perform, while also lowering the price targets for both companies. Nagel believes that the COVID-19 pandemic-related tailwinds for auto part retail could continue to fade, lowering prospects of sales and EPS upside. He also noted that ongoing and potentially intensifying labor strikes will impact auto production at leading manufacturers.
October 06, 2023 | 4:14 pm
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NEGATIVE IMPACT
AutoZone's rating has been downgraded by Oppenheimer, with a lowered price target. This could potentially impact the company's stock price.
The downgrade by a prominent analyst like Brian Nagel could potentially lead to a decrease in the stock price of AutoZone. The lowered price target also indicates a less optimistic outlook for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
O'Reilly Automotive's rating has been downgraded by Oppenheimer, with a lowered price target. This could potentially impact the company's stock price.
The downgrade by a prominent analyst like Brian Nagel could potentially lead to a decrease in the stock price of O'Reilly Automotive. The lowered price target also indicates a less optimistic outlook for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100