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Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at AutoZone, Realty Income , Shake Shack, and Devon Energy.
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AutoZone upgraded to Strong Buy at Raymond James
Raymond James upgraded AutoZone (NYSE:) to Strong Buy from Outperform and raised its price target to $3,100.00 from $2,850.00 following better-than-expected Q1 earnings, as reported in real-time on InvestingPro.
The analysts expect fiscal 2024 to bolster the thesis that AutoZone will continue gaining market share in both the DIY and DIFM sectors due to an expanded parts inventory and availability, as the number of mega hub locations is set to double to 200 soon. Other factors include improved delivery times due to IT and SG&A investments, and favorable year-over-year comparisons due to last year’s mild winter.
The analysts noted that Q1 demonstrated strong EBIT% and EPS, despite stable DIY comparative sales, further solidifying this positive perspective. Additionally, there are promising signs in AutoZone’s…
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