1317 ET - AutoZone continues to appear recession-resilient after Bank of America says the car-parts company's sales increased in March. Analysts Robert Ohmes and Vicky Liu say credit- and debit-card spending data suggests automotive aftermarket spending is staying strong, increasing in both parts and services during the past two months. Ohmes and Liu believe the auto aftermarket industry could benefit from tariffs inflating car prices. The analysts expect tariffs to result in lower new-car sales and higher used-car prices, potentially driving consumers to repair their existing vehicles and try to hold onto them for longer. The analysts upgrade AutoZone to buy from neutral. AutoZone is slightly lower today, but up 21% year-to-date. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
May 21, 2025 13:17 ET (17:17 GMT)
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