AZO - AutoZone: An Intriguing Growth Stock For The Watch List

2024-02-10 07:30:00 ET

Summary

• When focused on quality, growth investing can be a lucrative strategy.
• AutoZone is a well-established auto parts retailer, but there is plenty of growth left in the tank.
• The company enjoys an investment-grade credit rating from S&P on a stable outlook.
• Shares appear to be too rich here, trading approximately 13% above fair value.
• AutoZone could be a high-quality growth stock, but only at the right valuation.

In investing, there is no one-size-fits-all approach. Some investors may prefer growth, some may prefer value/dividends, and others may take a passive approach and buy index funds. These are all strategies that have made many investors rich over the long run....

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