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Markets: Stocks close near session highs - YF Premium is bullish on Autozone (AZO)

Yahoo Finance's Jared Blikre joins Seana Smith to break down the day's price action in stocks as well as a long in Autozone (AZO), a Yahoo Finance Premium Investment Idea. Not a subscriber? Start your free trial to join our next webinar on Wednesday, September 2nd at 2:00pm ET live!

Video Transcript

JARED BLIKRE: Now let's take a look at our Yahoo Finance Premium Investment Idea of the Day. And that is a long in Autozone. And this comes by way of Argus Research.

And just a couple of highlights from the report here, Argus is saying that their long-term target is now 13.85, and that's based on their current price of 11.53. So we have about 200 some points to run there potentially.

And also some-- they're also saying that fourth quarter domestic comp sales grew a record 21.8%, the highest quarterly growth since the company went public in 1991. And they're expecting Autozone to continue to benefit from solid industry fundamentals, which include an aging vehicle fleet, low gasoline prices, and increasing miles driven per car.