Morgan Stanley raised the firm’s price target on O’Reilly Automotive (ORLY) to $1,150 from $1,100 and keeps an Equal Weight rating on the shares. The firm trimmed its estimates as industry headwinds persist and earnings momentum will “remain subdued for now,” but argues that the stock’s valuation premium is “warranted by its superior execution and market share gains,” so the firm is edging up its price target on valuation.
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