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Zain Akbari

Zain Akbari, CFA, is an equity analyst for Morningstar.

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Strong domestic performance drove full-year results, showing that the wide-moat retailer enjoys enduring competitive advantages that should allow it to deliver returns even as retail changes.

We expect the firm's long-term performance will be characterized by low-single-digit revenue growth and operating margins over the next decade.

With fuel prices moderating and stronger new vehicle sales cohorts entering the company's sweet spot, we continue to see opportunities for AutoZone to grow while holding profitability near recent levels.

Strength in its domestic physical and digital operations has propelled results, and we expect the retailer to continue to successfully adapt to a changing retail landscape.

Though the narrow-moat retailer's Family Dollar unit is struggling, we expect the firm's competitive strength to emerge as the unit recovers.

Buying Keystone Foods gives no-moat Tyson international growth potential, but it won't significantly change the firm's ability to generate economic returns.

We have long believed the narrow-moat firm's work to boost availability, improve efficiency, and optimize its supply chain and distribution network would boost performance.

We still expect short-term challenges in the firm's chicken and pork units to yield to our long-term targets for the firm.

Shares are somewhat attractive, with sentiment underestimating the narrow-moat firm's remaining (if diminished) clout in-aisle.

While concerned that the Ainsworth purchase comes as Smucker struggles in the pet-nutrition sector, we applaud the firm’s openness to divesting its baking business.

Despite underwhelming guidance, we're optimistic about the narrow-moat specialty retailer's long-term prospects.

We expect the new CEO to hew closely to Hostess' successful playbook as the firm rebuilds following its 2012 liquidation.

More About Zain Akbari

Zain Akbari, CFA, is an equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers food companies, auto parts retailers, and information services firms.

Before joining Morningstar in 2015, Akbari spent several years at UBS, most recently leading the firm’s Liability Management, Americas team. During his time at UBS, Akbari structured and executed bond buybacks, exchange offers, and covenant modifications for investment-grade, high-yield, and convertible securities issued by American and Asian companies.

Akbari holds a bachelor’s degree in finance and real estate from The Wharton School of The University of Pennsylvania and master’s degree in business administration from the University of Chicago Booth School of Business.

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