Argus Upgrades AutoZone to Buy, Sets $4,325 Target

Analysts cite potential upside from current levels for the auto parts retailer.

Published on Mar. 9, 2026

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Argus Research has upgraded shares of AutoZone (NYSE: AZO) from a "hold" rating to a "buy" rating and set a $4,325 price target for the company. The brokerage firm cited potential upside of 18.79% from AutoZone's previous closing price.

Why it matters

The upgrade from Argus is a positive sign for AutoZone, which has faced some headwinds in recent months. The company's stock has declined from its 52-week high, and the revised price target suggests analysts see further room for the share price to appreciate.

The details

In its research report, Argus noted that AutoZone has a strong market position in the auto parts retail industry and has been able to maintain profitability despite economic challenges. The firm believes the company's focus on customer service and inventory management will continue to drive growth.

  • Argus issued the upgrade and new price target on Monday, March 9, 2026.

The players

Argus

An independent research firm that provides equity research, economic forecasts, and investment strategies.

AutoZone

A leading retailer and distributor of automotive replacement parts and accessories, headquartered in Memphis, Tennessee.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

The Argus upgrade is a positive sign for AutoZone, suggesting the company's fundamentals remain strong despite recent stock price declines. Investors will be watching to see if the company can capitalize on the analyst's optimism and deliver continued growth and profitability.