AutoZone trends likely to normalize in Q3, says Stifel Nicolaus

After AutoZone reported that its comparative sales fell 8% year-over-year during the first two weeks of February, Stifel believes that the decline was driven by delays in income tax refunds. The firm thinks the company's underlying trends remain positive, and it predicts that the company will benefit from favorable industry dynamics in Q4. The firm maintains a $410 target price and Buy rating.

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