DA Davidson raised the firm’s price target on O’Reilly Automotive (ORLY) to $1,600 from $1,525 and keeps a Buy rating on the shares. The company’s Q1 comps of 3.6% were at the high end of internal expectations, with growth in both do-it-for-me and do-it-yourself segments, driven by higher ticket counts, the analyst tells investors in a research note. O’Reilly’s same SKU inflation helped by less than 0.5%, which was lower than last quarter, but consistent with slower auto parts CPI reads, the firm adds.
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