Autozone Inc
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Consumer Discretionary : Specialty Retail | Mid Cap Blend
Company profile

AutoZone, Inc. is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of February 10, 2018, the Company operated through 6,088 locations in the United States, Puerto Rico, Mexico and Brazil. The Company's stores carry product lines for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. The Company's other operating segments include ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry, and E-commerce, which includes direct sales to customers through www.autozone.com.

Closing Price
$1,248.33
Day's Change
0.31 (0.02%)
Bid
--
Ask
--
B/A Size
--
Day's High
1,249.36
Day's Low
1,238.13
Volume
(Above Average)
Volume:
257,431

10-day average volume:
217,947
257,431

UPDATE: Tesla stock approaches $900 in its longest-ever winning streak, as another analyst leaves bear camp

8:19 am ET January 9, 2021 (MarketWatch)
Print

By Claudia Assis

Tesla is 'two separate tech companies,' analyst says

Tesla Inc. stock approached $900 on its way to another record close on Friday, stretching its winning run to an unprecedented 11th trading day.

Tesla (TSLA) shares rose 7.8% to end at $880.02, a closing record, and traded as high as $884.49, an intraday record. The stock's 11-session win streak is the longest on record.

The rally pushed Tesla's market capitalization past $830 billion, thus making Tesla the fifth largest U.S. company by market cap. Tesla's market valuation surpassed Facebook Inc.'s (FB) on Thursday. Tesla has added more than $105 billion in market value this week alone.

Earlier Friday, analysts at Evercore ISI upgraded their rating on the stock to the equivalent of hold, from sell, saying that they have been "on the considerably wrong side of (Tesla) for over a year now," they said in a note.

Their neutral stance now matches the ratings of 15 out of the 37 analysts covering Tesla and surveyed by FactSet. Of these, 12 have a buy rating on the stock and 10 have a sell rating.

For five years, "we have viewed (Tesla) as a 'growth + premium auto,'" an "attractive" premium EV maker company that "would grow for a very long time & would sell x numbers of vehicles in x eventual outyear....but was still an auto company," they said.

Related: Tesla and other EV makers report record sales, sending stocks to new highs (https://www.marketwatch.com/story/tesla-and-other-ev-makers-report-record-sales-sending-stocks-to-new-highs-11609781384)

"In reality (hindsight & rationalization, never predicted), we believe tech/retail investors see (Tesla) as two separate tech companies," one that is a market leader in electric vehicles and another offering driverless-car technology, solar-power stationary storage, battery and powertrain technologies and others.

Moreover, Tesla is "in the best position" to capitalize from any upside from climate initiatives from the new Biden administration and a "blue" Senate, the Evercore ISI analysts said.

Stocks of several clean-energy and related companies also rallied on Friday, (https://www.marketwatch.com/story/nio-bloom-energy-stocks-poised-for-record-closing-high-2021-01-08?mod=newsviewer_click) with American depositary receipts of China-based electric-vehicle maker Nio Inc. (NIO) and shares of alternative-energy company Bloom Energy Corp. (BE) among the top gainers.

Shares of Tesla have gained 794% in the past 12 months, compared with gains around 18% for the S&P 500 index. Tesla was added to the benchmark index last month. (https://www.marketwatch.com/story/buying-tesla-stock-heres-what-one-analyst-says-ahead-of-s-p-500-addition-11608315630)

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

January 09, 2021 08:19 ET (13:19 GMT)

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