BofA upgrades AutoZone to 'buy', raises PO

BofA Global Research upgrades auto part retailer AutoZone AZO.N to 'buy' from 'neutral', raises price objective to $4,800 from $3,900

New price objective a 23.7% upside to stock's last close

Shares are down 0.25% at $3,870

Brokerage says upgrade driven by co's potential benefit from price increases and tailwind from maturing commercial programs

Says auto tariffs could benefit auto parts aftermarket sales, as consumers spend more on repair rather than buy new vehicles

23 of 29 brokerages rate the stock "buy" or higher and 6 "hold" ; their median PT is $3,950 - data compiled by LSEG

Including session's moves, shares are up 21% YTD