RBC Capital analyst Steven Shemesh raised the firm’s price target on O’Reilly Automotive (ORLY) to $1,286 from $1,115 and keeps an Outperform rating on the shares after its Q3 results. The company remains a market share gainer, but its outperformance vs. the group has narrowed over the past few quarters as the overall category has come under pressure, while the visibility into a recovery remains limited, the analyst tells investors in a research note. The firm is also cutting its FY24 EPS view by 26c to $41.02 and its FY25 view by 46c to $45.06 while rolling its model to 2026 estimates.
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