DA Davidson raised the firm’s price target on O’Reilly Automotive to $1,275 from $1,200 and keeps a Buy rating on the shares. The company’s earnings missed estimates as it continues to navigate the soft and softening consumer environment adeptly, but its comps will still likey outpace competitors, showing continued market share gains as well as strong margin trends despite the weaker environment, the analyst tells investors in a research note. The stock is holding holding up well despite the year not showing the upside that many investors have grown accustomed to, 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
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- 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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