O’Reilly Automotive price target lowered to $1,143 from $1,212 at Truist

Truist analyst Scot Ciccarelli lowered the firm’s price target on O’Reilly Automotive to $1,143 from $1,212 and keeps a Buy rating on the shares. Despite the recent heat surge, the modest drop in vehicles prices, which is favoring buying a new vehicle over the cost of repairs, and the increasing pressures on lower-income consumers are headwinds for the company, the analyst tells investors in a research note. The firm is cutting its FY24 EPS view by 90c to $41.40 and its FY25 view by $1.10 to $45.20 but also believes that longer-term investors should use pullbacks to buy the stock.