Jefferies raised the firm’s price target on O’Reilly Automotive (ORLY) to $1,100 from $1,060 and keeps a Buy rating on the shares. The firm expects 2024 results in automotive aftermarket to continue to be influenced by a tighter money economy as consumers stare down a potential recession on the horizon. However, “recession or not,” it sees aftermarket parts retailers as poised for growth in 2024 and highlight O’Reilly and “DIY-heavy peer” AutoZone (AZO) as top picks in the space.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ORLY:
- DA Davidson tech/software analysts to hold analyst/industry conference call
- The hardlines and grocery retail stocks to own in 2024, according to UBS
- O’Reilly Automotive price target raised to $986 from $954 at Barclays
- O’Reilly Automotive, Inc. Announces Dates for Its Fourth Quarter and Full-Year 2023 Earnings Release and Conference Call
- O’Reilly Automotive elevated to ‘Best-of-Breed Bison’ at DA Davidson