Truist analyst Scot Ciccarelli raised the firm’s price target on O’Reilly Automotive to $1,204 from $1,143 and keeps a Buy rating on the shares. The company’s Q2 earnings miss saw sequentially steady Commercial growth but slightly softer DIY sales, and its FY24 guide was slightly lowered given the modestly slower trends across the industry, the analyst tells investors in a research note. O’Reilly continues to gain share however, and the industry growth will “inevitably reaccelerate”, the firm added.
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Read More on ORLY:
- O’Reilly Automotive cuts FY24 EPS view to $40.75-$41.25 from $41.35-$41.85
- O’Reilly Automotive reports Q2 EPS $10.55, consensus $10.99
- Notable companies reporting after market close
- O’Reilly Automotive (ORLY) Q2 Earnings Cheat Sheet
- O’Reilly Automotive price target lowered to $1,143 from $1,212 at Truist
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