O’Reilly Automotive price target raised to $1,068 from $1,065 at Truist

Truist raised the firm’s price target on O’Reilly Automotive to $1,068 from $1,065 and keeps a Buy rating on the shares as part of a broader research note on Hardlines/Broadlines. Truist card data suggests that retail spending trends have softened at the margin over the last few weeks, though these trends also look to be far more stable than what one might assume based on the underperformance seen from many retailers, the analyst tells investors in a research note. The firm adds however that O’Reilly Automotive is still one of its favorite stocks across time horizons and investment styles, with its higher price target reflecting the “still-bullish view of auto part retail and the company’s largely unmatched level of execution/consistency”. The sector is still poised for solid growth, and O’Reilly Automotive should continue to grow faster than the industry as its sustainable advantages allow it to remain a primary share gainer, Truist states.