What To Know About Raymond James's Upgrade of AutoZone
Portfolio Pulse from Benzinga Insights
Raymond James has upgraded AutoZone (NYSE:AZO) to Strong Buy, raising the price target from $2850.00 to $3100.00. AutoZone's shares are currently trading at $2674.98, and the new price target suggests a potential upside of 15.89%. AutoZone is a leading seller of aftermarket automotive parts in the U.S., with a growing presence in Mexico and Brazil.
December 06, 2023 | 5:00 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Raymond James upgraded AutoZone to Strong Buy and increased the price target to $3100, indicating a potential 15.89% rise from the current price.
Analyst upgrades typically lead to positive short-term price movement as they reflect a positive change in the analyst's view of the company's future performance. The increase in price target from $2850 to $3100 by Raymond James is a significant endorsement of AutoZone's growth prospects, which could encourage investors to buy shares, driving up the price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100