Why AutoZone Stock Raced 4% Higher on Wednesday
A clutch of analyst price-target raises was the fuel injection powering AutoZone's (NYSE: AZO) stock on Wednesday. With that positive sentiment at its back, the auto-parts retailer's shares accelerated more than 4% higher on the day. By contrast, the S 500 index sank by almost 1%.
No less than four prognosticators adjusted their AutoZone fair-value estimations, with three of them raising those targets.
None of these moves was drastic. This was typified by ' Matthew McClintock, who only added $21 to his level for a new figure of $2,742 per share. He maintained his overweight (buy) recommendation as he did so.
Source Fool.com
