AutoZone downgraded to Perform from Outperform at Oppenheimer Oppenheimer downgraded AutoZone citing valuation and limited earnings upside potential from slowing sales growth and moderating share buybacks. The firm lowered its price target for shares to $400 from $461.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: AutoZone (AZO) upgraded to Neutral from Underperform at Sterne Agee... Best Buy (BBY) upgraded to Neutral from Underperform at Wedbush... CVR Refining (CVRR) upgraded to Buy from Neutral at Citigroup... Essent Group (ESNT) upgraded to Outperform from Market Perform at Keefe Bruyette... JD Wetherspoon (JDWPY) upgraded to Overweight from Neutral at HSBC... McDonald's (MCD) upgraded to Outperform from Sector Perform at RBC Capital... T-Mobile (TMUS) upgraded to Buy from Neutral at BTIG... US Ecology (ECOL) upgraded to Buy from Hold at Stifel.
AutoZone March volatility elevated into O4 and outlook AutoZone March call option implied volatility of 22, April is at 18, June is at 17; compared to its 26-week average of 19 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on March 3.