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Non-Tech : AutoZone (AZO)
AZO 3,676+2.7%3:59 PM EST

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To: evan balter who wrote (93)3/5/1997 6:08:00 AM
From: Todd King   of 163
 
Hi Evan.

You are right, the Merrill analyst upgraded the short-term opinion.

I agree with you, my reading of the press release was lukewarm. That is, just meeting expectations, given the bad weather, and the big drop in net margins.

My guess is the conference call was positive about future prospects. Although I've not seen any details, my guess is it has to do with the outlook for the commercial program.

A target in the mid 30's is reasonable IMO from a valuation standpoint.

Good luck.

Todd
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