Morgan Stanley raised the firm’s price target on O’Reilly Automotive (ORLY) to $1,580 from $1,450 and keeps an Overweight rating on the shares. While the firm’s thesis remains based on the company’s ability to gain market share in a favorably positioned Auto Parts retail sector and drive earnings upside, Q1 results are “a modest knock” as better sales did not translate into stronger profits, the analyst tells investors. However, as long as O’Reilly is taking share, the “bull case remains intact,” the analyst added.
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Read More on ORLY:
- O’Reilly Auto’s Strong Growth Potential and Strategic Expansion Justify Buy Rating
- O’Reilly Automotive price target raised to $1,580 from $1,535 at UBS
- Closing Bell Movers: Robert Half down 15% after earnings miss
- O’Reilly Auto’s Resilience and Growth Potential Justify Buy Rating Despite Mixed Q1 Results
- O’Reilly Automotive reports Q1 EPS $9.35, consensus $9.90
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