We believe the market underappreciates the distribution advantage that the auto-parts retailers we cover-- Advance Auto Parts (AAP), AutoZone (AZO), Genuine Parts (GPC), and O'Reilly Automotive (ORLY)--have over their smaller rivals. This strength is a key contributor to our narrow economic moat rating for these companies.
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Zain Akbari does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.