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AutoZone seen getting a tax refund boost

Mar. 11, 2019 9:42 AM ETAutoZone, Inc. (AZO) StockAZOBy: Clark Schultz, SA News Editor
  • 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.

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