BUZZ-Wells Fargo raises Autozone PT on longer term growth opportunities
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Wells Fargo has raised Autozone's price target, citing attractive category dynamics and rising shareholder returns. The new price target indicates an 8.5% upside from the stock's last close. The brokerage highlights long-term growth opportunities in Autozone's under-indexed commercial business, international presence in Mexico and Brazil, and online sales. Autozone shares rose 0.76% in morning trading, with 22 of 29 brokerages rating the stock as "buy" or higher. Year-to-date, Autozone shares are up 23%.
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