Truist analyst Scot Ciccarelli lowered the firm’s price target on O’Reilly Automotive to $1,212 from $1,234 but keeps a Buy rating on the shares. The company’s Q1 comps were a touch below estimates at 3.4%, but its quarter was “solid” while the chop around weather is nothing more than short-term noise, the analyst tells investors in a research note. Some sector tailwinds have moderated, but the firm remains bullish on auto parts and believes that O’Reilly will continue to be a principal share gainer, Truist added.
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