- Bank of America Merrill Lynch sees near-term catalysts for AutoZone (AZO +1.2%).
- "We believe that through the next several weeks AZO's over-exposure to the DIY channel and low-middle-income consumers will actually be a benefit relative to its peers, given what we expect will be higher tax refunds for their core customers compared to last year," notes the BAML analyst team.
- The firm upgrades AutoZone to Buy from Neutral and raises its price objective to $1,080 from $987.