AutoZone (AZO) NewsBite - AZO Upgraded By UBS

Posted: Tuesday, November 03, 2009 12:15 PM EDT

AutoZone (AZO) was upgraded today by analysts at UBS and the stock is now at $138.36, up $2.14 (1.57%) on volume of 363,091 shares traded. UBS upgraded the stock today to Buy from Neutral. Over the last 52 weeks the stock has ranged from a low of $84.66 in November to a high of $169.99 in April. AutoZone stock has been showing support around $134.05 and resistance in the $138.39 range. Technical indicators for the stock are bullish and S&P gives AZO a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on AZO the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 115 range. [ABR-Seven Summits Strategic Investments NewsBite]

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