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O’Reilly Automotive price target raised to $1,038 from $992 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on O’Reilly Automotive to $1,038 from $992 and keeps a Buy rating on the shares. The stock is still one of the firm’s “favorite” names as Truist remains bullish on auto part retail and believes that the still-elevated vehicle prices, a growing/aging car parc, and same-SKU inflation should continue to drive strong growth in the sector, the analyst tells investors in a research note. Given the still-strong industry backdrop, the company’s “defensive growth” profile, and O’Reilly’s consistent execution, Truist remains an “active buyer” of O’Reilly shares, the firm added.

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