Evercore ISI Lifts PT on AutoZone (AZO) to $4,250 From $4,060

AutoZone, Inc. (NYSE:AZO) is one of the best automotive stocks to buy according to hedge funds. On August 18, Evercore ISI raised the firm’s price target on AutoZone, Inc. (NYSE:AZO) to $4,250 from $4,060 while keeping an Outperform rating on the shares.

The firm told investors in a retail earnings preview note that the timing of the Trump 2.0 policies caused uncertainties in the Q2 earnings season for large-cap retailers.

However, it added that Q2 was “generally” solid, with limited price elasticity and early tariff pass-through allowing nominal demand to hold up.

AutoZone, Inc. (NYSE:AZO) is involved in the retail and distribution of automotive replacement parts and accessories. The company’s operations are divided into the Auto Part Stores and Other segments.

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Disclosure: None. This article is originally published at Insider Monkey.