Guggenheim raised the firm’s price target on O’Reilly Automotive (ORLY) to $1,400 from $1,275 and keeps a Buy rating on the shares. The firm continues to expect comps to sequentially improve over the next 12 months, potentially back to mid-single digit positive, the analyst tells investors. In addition, the firm expects O’Reilly’s EBIT margin to return to a net expansionary state following four consecutive years of EBIT margin compression, the analyst noted.
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