TD Cowen initiated coverage of O’Reilly Automotive with an Outperform rating and $1,100 price target. The firm views O’Reilly as a “best-in-class operator” and expects ongoing market share growth across both its do-it-for-me and do-it-yourself channels. Leading parts availability and coverage through strategically placed inventory holding nodes will help drive the company’s growth, the analyst tells investors in a research note.
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