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AutoZone(AZO) is another stock that's enjoying good relative strength, at least in the near-term. Shares of the $14 billion auto parts retailer have climbed close to 9% so far in 2013, besting the broad market's impressive performance by around 250 basis points. Now this Rocket Stock looks well positioned for even more upside.
AutoZone is the biggest after-market car part retailer in the country, with more than 5,000 stores in the U.S. and Mexico as well as a Brazilian pilot location. AutoZone also runs a lucrative commercial business, which provides parts to repair shops and service stations. While the margins aren't as deep for the commercial part supply business, the volumes are, and they enable AZO to take advantage of repair trends that extend beyond the do-it-yourselfers who stroll into one of the firm's stores.
The record age of the average car on roads today is a big secular tailwind for AutoZone. As consumers need to spend more on maintenance to keep their cars driving, the firm should continue to enjoy increased parts spending. Exposure to Latin American markets is another major growth driver in the shorter-term.
With rising analyst sentiment in shares, we're betting on this Rocket Stock this week.
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