Morgan Stanley Maintains Overweight Rating for AutoZone: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has reaffirmed its Overweight rating on AutoZone (NYSE:AZO) and increased its price target from $2750.00 to $2900.00. AutoZone's shares have fallen 0.92% in the last 24 hours to $2685.69. The new price target suggests a potential upside of 7.98% from the current price. AutoZone is a leading retailer of aftermarket automotive parts in the U.S., with a growing presence in Mexico and Brazil.
December 07, 2023 | 5:00 pm
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Morgan Stanley maintains Overweight rating on AutoZone and raises price target to $2900, indicating a potential 7.98% upside from the current price.
The reaffirmation of an Overweight rating and an increased price target by a reputable financial institution like Morgan Stanley is a strong positive signal for investors. It suggests confidence in AutoZone's business model and growth prospects, which could lead to increased investor interest and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100