Citi lowered the firm’s price target on O’Reilly Automotive to $1,212 from $1,255 and keeps a Buy rating on the shares. The analyst says the word “weather” was mentioned 30 times on O’Reilly’s Q1 earnings call for the quarter’s slight same-store-sales miss and continued choppy business results in April-to-date. Importantly, the full year outlook remains unchanged, the analyst tells investors in a research note. The firm believes the fundamentals for O’Reilly remain healthy for continued market share gains and the auto parts retail industry remains a bright spot in a volatile consumer spending environment.
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