Wells Fargo raised the firm’s price target on O’Reilly Automotive (ORLY) to $110 from $105 and keeps an Overweight rating on the shares. SG&A/store again exceeded the firm’s model, but Wells thinks O’Reilly gets a pass this time with 8.1% comparable sales smashing 5.5%-6% expectations and raising full year EBIT/EPS 1%/2%. The firm suspects this print puts higher oil, miles driven and waning inflation fears to rest.
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