AutoZone: Hold shares - Joseph Lazzaro

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AutoZone: Hold shares
Nov 04, 2009 08:30 PM UTC

Joseph Lazzaro

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Via BloggingStocks:

Filed under: AutoZone Inc (AZO)

AutoZone Inc.'s stock (NYSE: AZO) remains a bit of an enigma, hence for now, I'm placing a Hold on the company's shares, first recommended on March 39, 2009 at a price of $163.40.

Auto parts chain AutoZone's forecast revenue growth for FY2010 of 4-6% is sufficient following a 4.5% gain in FY2009, including a 5.4% increase in same store sales in Q4. The headwinds are real: high U.S. gasoline prices that might delay purchases, but they are offset by long-term trends: more drivers maintaining older, used cars because they aren't able to purchase a new one.

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AutoZone: Hold shares originally appeared on BloggingStocks on Wed, 04 Nov 2009 15:30:00 EST. Please see our terms for use of feeds.

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