O’Reilly Automotive price target raised to $1,222 from $1,210 at Goldman Sachs

Goldman Sachs raised the firm’s price target on O’Reilly Automotive to $1,222 from $1,210 and keeps a Buy rating on the shares. The company reported a Q2 earnings miss and lowered its guidance, but the firm remains positive on the name, noting that the recent demand headwinds are likely to be short term in nature while its best-in-class operations should enable O’Reilly Automotive to continue taking share, the analyst tells investors in a research note. Goldman Sachs adds that it remains encouraged that consumers are continuing to invest in and maintain their vehicles, which should provide some level of downside protection.